Iran’s Oil Minister: Demand for oil is ‘very vague’

The demand for oil is ‘very vague’, Iran’s Oil Minister Bijan Namdar Zangeneh said on Monday.

He added that no one can predict crude prices, which are subject to supply and demand.

Market reaction

Both crude benchmarks are unperturbed by the above comments, with WTI consolidating the latest bounce above $33 mark, up 0.60% on the day.