Iran is going to sell oil regardless the world prices on energy resources, Bijan Namdar Zanganeh, Oil Minister of the Islamic Republic of Iran said, according to Reuters.
He pointed out that Iran must export oil, no matter if its price goes down or up to $100 per barrel. Zanganeh underlined that once sanctions are removed, the country will bring back the market share of 1 million barrels a day. According to the minister, Iran is able to increase oil production by 500,000 barrels a day right after removal of the international restrictions.
Since July 14, Brent crude oil price has dropped from $59.10 to $42.69.
