Posts Tagged ‘export’

Oil Price is Stabilising Even as Iran Plans to Boost Crude Exports

Monday, July 11th, 2016

Oil markets will remain stable this year even as Iran plans to keep boosting crude exports to regain the market share it lost due to sanctions, according to a senior official at state-run National Iranian Oil Co.

Iran exports about 2 million barrels of its daily output of 3.8 million, said Mohsen Ghamsari, NIOC’s director of international affairs. The country has regained about 80 percent of the market share it held before the U.S. and European Union tightened sanctions on its oil industry in 2012, he said.

Sanctions were eased in January, and Iran plans to double crude exports.

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