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Iran’s oil output growth not to be less than 1 mbpd

Iran’s oil output growth not to be less than 1 mbpd

IEA sees global market awash with oil in 2017 if no OPEC cut (10 November 2016 18:46)

Date: 4 December 2015 15:17

Baku, Azerbaijan, Dec. 4

By Dalga Khatinoglu - Trend:

Iranian Oil Minister Bijan Namdar Zanganeh said that his country is ready to increase crude oil production by one million barrels per day (mbpd), and other OPEC members who produce more than their quota should decrease production.

Iran isn’t going to increase the output by 0.5 mbpd, Zanganeh noted that the Islamic Republic is serious to increase the growth level to one mbpd even if the other members don’t decrease their production, Fars news agency quoted Zanganeh as saying Dec. 4.

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