Saturday, September 19th | 1 Tishri 5781

Subscribe
June 7, 2015 10:51 am

Iran to Increase Oil Exports When Sanctions End Even if Prices Fall

avatar by News Editor

Iran will increase its oil exports after international sanctions end. Photo: Press TV.

Iran said it will increase its oil exports after international sanctions end. Photo: Press TV.

Iran will increase crude exports with the end of international sanctions even if oil prices decline, the country’s representative to OPEC said, adding supply after a surplus sent Brent falling almost 50 percent last year.

The Persian Gulf nation can double oil exports within six months of sanctions ending, Mehdi Asali said, according to state-run Islamic Republic News Agency. Under sanctions, Iran is allowed to export about 1 million barrels of oil a day. Iran produced 2.8 million barrels of oil a day in May, more than Venezuela and Nigeria, according to data compiled by Bloomberg.

Read full story at Bloomberg.

Share this Story: Share On Facebook Share On Twitter

Let your voice be heard!

Join the Algemeiner

Algemeiner.com

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.