Using oil as weapon will threaten OPEC, says Iran oil minister

GENEVA: Iran’s Oil Minister Bijan Zanganeh has said any country using oil as a weapon could result to the collapse of oil producer group OPEC, media reports said on Wednesday.

It should be noted that oil prices hit their highest since November last year as Washington said all waivers for those importing Iranian oil would end this week, according to reports.

Minister Zanganeh said that those countries using oil as a weapon against the OPEC founding members are troubling the unity of OPEC, which even could lead to a collapse of OPEC.

Meanwhile, Masoud Karbasian, chief executive of the National Iranian Oil Company (NIOC), said his country Iran would not leave OPEC, according to reports. (Agencies)