Iran raises oil production gradually to avoid further falling prices 1/6/2016
Iran raises oil production gradually to avoid further falling prices
1/6/2016 0 Comments
A senior official said the National Iranian Oil Company that Iran has going for moderation in the production and export of oil immediately after the lifting of Western sanctions against it to avoid imposing further pressure on crude prices.
Q said. M. Qmbar international affairs director of the company in an interview "to some extent .. do not want to ignite a price war.
"I should say that there is no room to push prices towards further decline under the level that has been reached."
Oil prices have fallen by about two-thirds from their highs in the mid-2014 because of oversupply and weak demand, which deprived the oil producers of billions of dollars in revenue.
It is expected that Qmbar "Oil prices remain at current levels this year, contrary to market expectations, which suggests that prices could come under further pressure after the lifting of sanctions on Iran in the next few months under the nuclear deal reached last year."
He said that "Iran is the third largest oil producer in OPEC will not flood the market, but its production will increase gradually."
He continued, "We will be more sophisticated in our disposal has gradually increase production."
Qmbar said that "the Iranian oil company is looking to acquire stakes in the ranks of existing and new overseas to sell more shipments in the global market, similar to that strategy to some extent those adopted by the Producers Gulf others such as Saudi Arabia and Kuwait."