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A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf July 25, 2005. REUTERS/Raheb Homavandi/Files
LONDON (Reuters) – Iran’s oil minister said on Sunday that the supply-demand balance in the global oil market is fragile due to U.S. pressures on Iran and Venezuela, and tensions in Libya.
“Venezuela is in trouble. Russia is also under sanctions. Libya is in turmoil. Part of U.S. oil production has stopped. These show the supply-demand balance is very fragile,” Bijan Zanganeh was quoted as saying by Tasnim news agency.
“If they (the Americans) decide to increase pressures on Iran, the fragility will increase in an unpredictable way,” Zanganeh added.
Reporting by Bozorgmehr Sharafedin; Editing by Jan Harvey
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