P.M. BRIEFING : Iran Profits From Gulf Crisis
Iran is earning windfall revenues to the tune of $700 million to $800 million a month as a result of the Persian Gulf crisis triggering higher oil prices, Tehran radio reported today.
The radio quoted Iranian Oil Minister Gholamreza Aqazadeh as saying Iran has become the only secure place in the Gulf to load oil and that demand for Iranian oil was now very high.
As a result of higher oil prices, the increase in Iranian oil revenues, since the crisis began Aug. 2, is running at $700 million to $800 million a month, he said.
The Iranian oil minister, however, reiterated a stand he took shortly after the Iraqi invasion of Kuwait last month: that member-states of the 13-nation Organization of Petroleum Exporting Countries should not pump more oil to make up for a shortfall on the world market.
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