¡¡¡¡TEHRAN, April 19 (Xinhuanet) -- Iranian Oil Minister Bijan Namdar Zanganeh on Saturday predicted a sharp fall of oil price on the international market, but adding Tehran is ready to face the fallout of such price drop.

¡¡¡¡Zanganeh predicted that the oil price will not exceed 25 US dollars per barrel in the remaining time of this year due to the USpresence in Iraq that will have a long-term impact on the oil market.

¡¡¡¡He especially blamed US policies on Iraqi oil supply for the expected oil price drop.

¡¡¡¡"Iraqi military ruler Jay Garner's policy on supply of 7 millionbarrels of oil per day would strongly affect the oil market, leading to price falls," Zanganeh was quoted by the official IRNA news agency as saying.

¡¡¡¡But he added that the Iranian government has adopted necessary mechanisms to face possible repercussions from the price drop.

¡¡¡¡On Thursday, the minister called on members of the Organization of Petroleum Exporting Countries to trim down their oil production in the second quarter, in an effort to prevent price slide on the world oil market. Enditem

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