Iran warns Gulf countries not to replace its oil

Iran warned its Arab neighbours on Sunday not to increase their crude output to replace Iranian oil in the event of an embargo by the European Union, Tehran's OPEC Governor Mohammad Ali Khatibi was quoted as saying.

"The consequences of this issue are unpredictable. Therefore, our Arab neighbour countries should not cooperate with these adventurers and should adopt wise policies," Khatibi said in an interview with the Sharq newspaper. (Reuters)