Deputy Oil Minister for International Affairs Amir Hossein Zamaninia noted the official removal of international sanctions on Iran’s oil industry asserting “the event has brought about the possibility to export 500 thousand barrels of crude oil.”
Zamaninia emphasized that the country’s production and exports capacity of oil will reach one million barrels per day within a few months; “during the sanction years, Iran lost a portion of its oil market with countries like Saudi Arabia conquering the Iranian oil market,” he underlined.
The official deemed regaining of the lost oil market as the most important plan for the country adding “currently, Iran enjoys numerous customers from various parts of the world.”
In response to a question about further decline in global oil prices in case of increase in Iran’s oil output, Zamaninia explained “Iran possess the right to increase production while we seek to enter the global market exerting the least possible influence on oil prices.”
Deputy oil minister further declined the false claim made by Reuters in recent days that India has surpassed China in importing Iranian crude; “China will remain most major customer of Iran’s oil in the post-sanction era,” he emphasized.
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