Bijan Zanganeh warns that OPEC may collapse

Iran’s oil minister warned that OPEC is in danger of collapse and said the Islamic Republic would respond to members of the bloc who undermine its crude exports, an apparent reference to nations such as Saudi Arabia that have discussed filling the supply gap left by falling Iranian shipments, Investing.com reports.

"Iran is a member of OPEC for its interests and any threat from member states won’t go unanswered," Bijan Namdar Zanganeh said after a meeting with OPEC Secretary General Mohammad Barkindo in Tehran, according to the oil ministry’s Shana news agency.