Iranian government announced that the country would be ready to discuss its daily output once it reaches 4mln barrels production.
Iran’s Oil Minister Bijan Zanganeh underlined that cooperation with the other big oil exporters would be possible only after Iran boosted oil production to the target level of 4mln bbls when he was asked whether Russian energy minister Alexandr Novak would be able to convince Iran to freeze oil extraction.
Iran Oil Ministry forecasted oil export growth up to 2mln barrels per day by the end of March and up to 3.6 mln barrels in the second half of 2016.
At the same time Zanganeh is ready to discuss situation on the oil market with Russia. Earlier Russia and Saudi Arabia reached an agreement to decrease oil production on condition that other large oil exporters would support this initiative.
After sanctions were lifted Iran was trying to recover its previous oil extraction volume which put the country into opposition. The Iranian government expects OPEC and other large oil producers to offer them special oil extraction and export build up program.
