Iran could halt oil production level of 4 million barrels per day

Iran could halt oil production level of 4 million barrels per day

TEHRAN, March 13. /Corr. Alexander Levchenko/. Iran will discuss with the largest oil producers freeze their prey only when its level in the country will reach 4 million barrels a day. This is the Minister of oil of Iran Bijan Namdar Zanganeh stated during a visit to the construction site of a new refinery in the port city of Bandar Abbas on the Persian Gulf coast.

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“Until we have reached a production level of 4 million barrels a day, they (other countries-oil producers) should leave us alone, – quotes the words of the Minister of Iranian TV channel Press TV. – When we reach this level of production, we can work with them.”

Zanganeh also said that he would discuss the “oil policy” during talks in Tehran with Russian energy Minister Alexander Novak on March 14.

Earlier, Russia and Saudi Arabia have agreed on the freezing of oil production, provided that other major manufacturers will follow suit.

Iran seeks to rebuild its market share after the lifting of sanctions and expects that OPEC and other major manufacturers will offer a special programme of increasing production and exports. “We do not intend to expose themselves to sanctions after having left from under them”, – emphasized in this regard, the Deputy oil Minister of Iran, Amir Hossein, Zamaninia.

Officials of the Ministry of oil of the Islamic Republic of Iran (IRI) has previously stated that they intend to increase production from 2.8 million barrels per day in 2015 to 3.6 million barrels in the second half of 2016. Thus, according to Zanganeh, until March 20, the oil exports of Iran will reach 2 million barrels per day.