Iran to regain position in OPEC

TEHRAN, Sep. 27 (MNA) – Iran’s deputy oil minister has said that the period of stealing Iran’s share in the oil market is over and Iran will regain its 14-percent share in OPEC by doubling oil export in the post-sanction era.

Outlining Iran’s plans to increase crude oil production and export in the post-sanction era, Mansour Moazemi said that, “due to cruel sanctions, Iran’s share in the market has been occupied by other countries over the past few years and our top priority after the removal of sanctions will be raising oil export.”

Announcing that at the first opportunity Iran will increase oil export by 500 thousand barrels, the official asserted that, “after a short period of time, another 500 thousand barrels will be added to our export volume.”

He estimated that according to current conditions, Iran’s oil export will rise to two million barrels per day due six months after sanctions removal.

Reiterating that Iran possessed 14.2 percent of OPEC’s market in past, Moazami noted that, “the market share of Iran has been ignored and occupied by other countries but we will strive to take it back.”

“In terms of capability and with regard to indicators like production, population, GDP, etc. we own a very special and superior position in OPEC,” underlined Moazami and asserted that, “therefore, we are attempting to regain our lost share in the market and even to find new shares in future.”

He further enumerated the present challenges and barriers to increasing oil export and added that, “despite all the challenges, we are planning to increase our market share in order to reach our goal of increasing oil export by one million barrels in six months.”


News Code 110523


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