17:30 GMT08 May 2021
Listen Live
    World
    Get short URL
    0 44
    Subscribe

    Tehran intends to increase its crude oil exports to 2 million barrels per day as the Monte Toledo oil tanker became the first to deliver Iranian crude into Europe since mid-2012 on Sunday, Economy Minister Ali Tayebnia said.

    MOSCOW, March 7 (Sputnik) — Iran has been boosting its oil sales after a deal with the P5+1 group of world powers — including Russia, the United States, China, France and the United Kingdom plus Germany — in July on monitoring and limiting Tehran's nuclear program in exchange for the easing of international sanctions.

    "Arrangements have been made for the return of Iran to the market and the country's exports are estimated to reach 2mbd in a short time," Tayebnia said, as quoted by the Shana news agency. 

    At the same time, other oil producers are seeking to freeze oil output at January 2016 levels. The energy ministers of Saudi Arabia, Qatar, Venezuela, and Russia discussed the current oil market situation in the Qatari capital of Doha in February and agreed to freeze oil production at January levels if other countries followed suit. Iran did not take part in the meeting. A number of other countries, including non-OPEC member Oman, have expressed interest in the deal.

    Related:

    Is Islamic Iran Taking a More Progressive Approach to Syria Than the US?
    Iran Sentences Billionaire Tycoon to Death for Corruption
    Going Global: Iran Negotiating Joint Oil Drilling With 30 Foreign Companies
    Iran Plans to Sign Oil Contracts Worth Up to $15Bln - Deputy Oil Minister
    Tags:
    oil tanker, oil prices, European Union, Iran
    Community standardsDiscussion