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Media: Iran will give priority to oil exports

by ChemOrbis Editorial Team - content@chemorbis.com
  • 28/12/2015 (10:51)
According to media reports, Iran’s Oil Minister Bijan Namdar Zanganeh reported that they are planning to give priority to increasing oil exports following the removal of sanctions.

As part of their plans to boost crude shipments to pre-sanction levels, Iran will increase its oil exports by 500,000 barrels of oil per day (bpd) within a week after the sanctions are lifted and by 1 million bpd within six months of lifting sanctions.

Most analysts believe that Iran’s plans to expand production following an expected easing of sanctions will exert further downward pressure on an already oversupplied oil market.
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