Sources in OPEC: Iran poses a challenge to any agreement to cut production
Sources in OPEC: Iran poses a challenge to any agreement to cut production London / Dubai January 28 (Reuters) - The sources of the Organization of the Petroleum Exporting Countries (OPEC) said on Thursday that Iran, which is seeking to increase its oil exports after the lifting of sanctions by talking about the need to restore its market share to make them a challenge to any agreement between producers to curb oversupply .
Iran wants to regain its position as the second largest producer in OPEC after Saudi Arabia and who lost in 2012 to replace them while Iraq sanctions imposed on Tehran over its nuclear activities led to a reduction in exports. The sources say that the market share is now restored is central.
A source familiar with Iranian thinking today "because of international sanctions, exports shrank by 1.1 million barrels a day. So we regain our market share."
With the lifting of sanctions on Tehran this month, Iran says it is working to increase its oil production by 500 thousand barrels per day and the promotion of exports, a plan other sources in OPEC says it is more difficult to reach a global deal to cut production.
A source is Iran, OPEC's "difficult to reach any agreement," he said, adding that Iran will need to keep production stable or submit it by up to 100 thousand barrels per day, "because the higher prices will lead to increased revenues without having to raise production. But I Ockk in it."
Sources say that the sector OPEC officials were holding bilateral talks to urge Russia to participate in the production cuts with OPEC urged Iran to soften its stance.
She added that Venezuela and Algeria are among the countries that hold these talks. He said Russian Energy Minister Alexander Novak said OPEC is trying to organize a meeting with other producers next month.