Iranian Oil Minister Warns of High Oil Prices

Iranian Oil Minister Kazem Vaziri-Hamaneh issued a second warning about a surprise hike in oil prices if the United Nations (UN) sanctions against Iran are put in effect.

In his interview to The Wall Street Journal Vaziri-Hamaneh said possible sanctions would result in a stoppage of Iranian efforts to mine their national oil, and the production process at existing oil reservoirs has considerably slowed down.
Zaman Online