Deputy Petroleum Minister for International and Commercial Affairs said on Sunday current problems in oil market are due to notorious acts of some regional countries, which is their reaction to Iran’s regional and international successes.
Speaking on Iran’s production quota in post-sanctions era, Amir-Hossein Zamani said that relying on proper planning it is possible to keep the OPEC production ceiling intact and the production quotas observed.
‘I tell you definitely that there are clients for Iran’s increased production, but let me remain silent on how we intend to keep the OPEC production ceiling intact while increasing our oil production in accordance with our production quota,’ he added.
The Petroleum Ministry official said Iran still hopes the OPEC members will manage to return to their previous production quotas and each country will produce and present oil to the market in accordance with the share allocated to it by the OPEC.
After the recent sharp drop of the oil prices in international markets the raw oil price dropped down to 30 dollars per barrel and the OEPC oil basket, too, for the first time in past 11 years dropped to below 30 dollars.
The Saudis and their allies’ sabotage on OPEC against observation of countries’ approved production quotas is the most important cause for the sharp oil price decrease in recent months.