The market will never buy Saudi Arabia’s claim that it has been compensating for the loss of Iran’s oil exports, Iranian Oil Minister Bijan Zanganeh said on Monday, adding that Saudi Arabia officials have been claiming they are able to offset Iranian losses under U.S. pressure. “Such brags would only satisfy Mr. Trump but the market would never buy such a claim,” Iran’s oil ministry’s news service Shana quoted Zanganeh as saying, in response to last week’s remarks by Saudi Crown Prince Mohammed bin Salman that the Saudis were offsetting Iranian losses and even more. In an interview with Bloomberg last week, Crown Prince Mohammed said that: “[A]ctually the request that America made to Saudi Arabia and other OPEC countries is to be sure that if there is any loss of supply from Iran, that we will supply that. And that happened. Because recently, Iran reduced their exports by […]