Cheap oil is Iran’s trump card to counter sanctions : Iranian official

TEHRAN, April 28 (MNA) - The director of the International Department of the National Iranian Oil Company (NIOC) said Iran’s cheap oil is the winning card against European sanctions while the U.S. is trying to keep the oil prices high. On whether Iran which is under sanctions welcomes high oil prices, Mohsen Qamsari said, “In the world market demand and supply are not the only determinant factors in oil prices.” Qamsari told the Mehr News Agency that a supply of cheap oil by Iran would eliminate many competitors from the oil market.