Iran believes oil prices should ‘adjust’ after its output returns to the energy market following the lifting of sanctions, Foreign Minister Javad Zarif said on Thursday.
‘I believe we have a share in the market which was removed from us. Now we have to return our share and the market has to adjust,’ Sputnik quoted Zarif saying.
The removal of sanctions allows Iranian crude oil producers to re-enter the international market.
Iranian increased its oil exports 500,000 barrels immediately after withdrawal of sanctions and is planning to increase it an additional 500,000 barrels in coming weeks.