June 19, 2018 / 1:51 PM / a month ago

Iran oil minister says problems in oil market are political: SHANA

LONDON (Reuters) - Iran’s oil minister said on Tuesday that problems in the oil market were political and not the result of a supply and demand imbalance.

FILE PHOTO: Iranian Oil Minister Bijan Zanganeh talks to reporters during the 15th International Energy Forum Ministerial (IEF15) in Algiers, Algeria September 27, 2016. REUTERS/Ramzi Boudina/File Photo

“The current problem in the oil market is the result of political tension caused by the American president, not supply and demand imbalance,” Bijan Zanganeh was quoted as saying by SHANA before his departure to the OPEC summit.

Reporting by Bozorgmehr Sharafedin; Editing by Adrian Croft

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