Iranian oil minister optimistic about improving Tehran’s oil exports

Iranian oil minister optimistic about improving Tehran's oil exports

Iran’s oil minister, Bijan Namdar Zangeneh, was quoted as saying on Sunday that he was “very optimistic” about an improvement in his country’s crude oil exports despite US sanctions on Iran’s main source of income,

“I am very optimistic about the improvement of our exports of oil,” Zangeneh said on television.

He said cooperation between members of the Organization of the Petroleum Exporting Countries (OPEC) and oil-producing countries outside the Organization will stabilize the market.

Industry sources told Reuters last month that Iran’s crude exports fell in June to 300,000 bpd or less after Washington tightened sanctions on Iran’s oil in May.

In April 2018, exports of Iran’s oil exceeded 2.5 million barrels per day.

Read also: OPEC compensates Iran’s oil loss, expects demand for crude to fall in 2019

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