Iran govt issues new oil warning as UAE says production can rise

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Iran issued a new warning over Mideast oil supplies as the UAE said on Tuesday it could increase its own production, the latest remarks to follow President Donald Trump’s demand for lower global energy prices.

 
Speaking to Iranian expatriates in Switzerland, where he was on an official visit, Iranian President Hassan Rouhani took aim at America. “The main goal of the US by imposing sanctions is to put pressure on people, but they claim that they want to put pressure on the Iranian government,” Rouhani's website quoted him as saying. “But when they apply sanctions on people's basic needs like medicine, who will be put under pressure?” Rouhani added that if Iran’s crude oil exports were threatened, the rest of the Mideast’s would be as well.

Meanwhile, the UAE’s Abu Dhabi National Oil Co issued a surprise statement, saying it has an oil production capacity of 3.3 million barrels per day. It added that it “remains on track to increase its production capacity to 3.5 million (barrels per day) by the end of 2018.” 

Tehran, world powers to meet on N-deal

Foreign ministers of Iran and the five world powers still party to its nuclear accord will meet in Vienna on Friday to discuss ways of maintaining the deal after the withdrawal of the United States, Iranian state news agency IRNA reported. “At the meeting, which will be held at the request of Iran, foreign ministers of Iran and five world powers will discuss a proposed European package and measures to protect the agreement,” IRNA said. 

 

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