Oil Market Could Take More Iran Supply If US Sanctions Lifted: Iran’s OPEC Gov

Tehran — The oil market could absorb more crude oil from Iran if US sanctions are eased, according to Iran’s governor to OPEC.

“Even if we produce around 4 million b/d, it won’t be that considerable compared to our reverses,” Amirhossein Zamaninia, who is also Iran’s deputy oil minister for trade and international affairs, said Feb. 7 on the sidelines of a petrochemicals conference in Tehran. “Thus, the market will have room for the amount of oil we have for exports.”

Iran’s government has targeted 2.3 million b/d of exports if the sanctions are lifted. Pre-sanctions production capacity was 4 million b/d. Read more…..


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