The Trump administration is asking its global partners for a full halt to oil imports from Iran by November 4, and is hoping to reduce Tehran's crude oil sales to zero while minimising disruption to the market. Asked if someone was manipulating oil markets, Trump said: "OPEC is and they better stop it because we're protecting those countries, many of those countries".
Iran is among the nations with the highest oil serves, along with Saudi Arabia, which is the world's leading exporter of oil.
Referring to reports that Saudi Arabia may increase its oil exports to replace Iranian oil in world markets, Jahangiri said: "Anyone trying to take away Iran's oil market (share) would be committing great treachery against Iran and will one day pay for it".
"We want to defeat America's efforts ... to stop Iran's oil exports", he said.
In particular, the administration points to a recent announcement by Saudi Arabia to increase oil production, with President Trump tweeting Saturday that the country's leader King Salman agreed to increase oil production by 2 million barrels.
On Tuesday a senior State Department official described tightening the noose on Tehran as "one of our top national security priorities".
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But on Monday he was still in England , reducing his chances of returning in time for the game. We're all fighting, we're all raring to go and we're all looking forward to the next game".
However, "sanctions alone won't cut it - we'll need to use all of our policy levers, and the help of our allies", he said.
"We're not granting waivers", the official said.
Shortly after, the White House backtracked on Trump's statement, saying that Riyadh is ready for measures aimed at stabilizing the oil market.
Some 50 worldwide companies had announced their intention to leave the Iranian market, particularly in energy and financial sectors, as the United States moved to reimpose the sanctions against Iran, Hook said.
Iran and Saudi Arabia broke off diplomatic relations in 2016 and are locked in several proxy wars in the Middle East, including in Yemen.
Without naming Saudi Arabia, Zangeneh wrote "any increase" in production by any member state "beyond commitments stipulated in OPEC's decisions. would constitute (a) breach of the agreement".
Iran possesses the second-largest gas reserves on the planet after Russian Federation and the fourth-largest oil supply, while Saudi Arabia is the world's biggest oil exporter.