Tehran (IP) - The Iranian minister of Oil said that the Islamic Republic of Iran is ready to increase its oil supply in world markets as soon as possible.

Iran PressIran News: The Ukraine war and the US-European threat to impose sanctions on Russian oil exports pushed oil prices to their highest level in a decade, and gas prices in Europe broke historical records.

Brent oil (European market index) price crossed $ 116 this morning (Thursday); This is the highest Brent oil price since September 2013.

In the US market, the price of West Texas Intermediate (US index) exceeded $ 113; This is the most expensive oil index in the United States since February 2011, 11 years ago.

According to Iran Press on Thursday, in his assessment and analysis of the situation in the oil market, Iranian Oil Minister Javad Owji said that stabilizing the oil market and reducing price fluctuations is possible only through cooperation and changing tense approaches.

He said: "The Islamic Republic of Iran is ready to increase its oil supply to world markets as soon as possible, and it is the major consuming countries that must provide the necessary conditions for maintaining stability and calm in the oil market through their actions."

Owji added: "The occurrence of political and economic crises in the world has various consequences, one of which is the occurrence of oil price fluctuations in the global oil market, so OPEC+ is fully prepared to closely monitor the market, and, if necessary, take the appropriate measures in this regard."

The Iranian oil minister stated: "The part of the situation that goes back to fluctuations and price increases is rooted in the political actions and decisions of some countries, which on the one hand impose sanctions on major oil producers and on the other hand cause crisis and war in the different regions of the world with their policies."


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