Oil Minister Bijan Namdar Zanganeh said on Wednesday that the current volatility in the oil market is psychological.

Minister of Petroleum Bijan Zangeneh said Wed. that private buyers of Iranian crude have been able to export it without any problems, in the face of US sanctions targeting the country’s oil exports.

Turkey has resumed imports of Iranian crude oil after a one-month hiatus in November when U.S. sanctions on Iran were reimposed, trading and shipping sources said.