Iran says neighbours exaggerating oil capacity

Iranian Oil Minister Bijan Namdar Zanganeh on Wednesday claimed two neighbouring countries were "exaggerating" their production capacity to reassure markets after the US ended sanction waivers for buyers of Iranian crude.

Zanganeh also said Washington's stated aim to bring Iran's oil exports "to zero" was "an illusion".

The White House announced last week it would end from Thursday oil purchase waivers granted to Iran's main customers -- including China, India and Turkey.

Since then, Zanganeh claimed, "two of our neighbouring countries constantly try to reassure the market, by issuing statements and by exaggerating their surplus capacities".

These countries which he did not name were trying to signal to the world that "there would be no problem facing global supplies as Iranian oil goes off the market".

It's "an exaggeration", Zanganeh said, speaking at an oil and gas conference in Tehran.

"World affairs are not as simple as America and some of its supporters and instigators think. ...