18 May 2015 - 08:58
  • News ID: 241121
Iran Hopes for Pre-Sanctions Oil Exports

TEHRAN May 18(Shana)--An Iranian deputy petroleum minister has said the country hopes its crude oil exports will return to pre-sanctions levels within three months once a deal with global powers to lift an oil embargo is finalized.

"We hope we can come back to the export levels that we had before the sanctions," Reuters quoted Rokneddin Javadi, who is also the managing director of the National Iranian Oil Company, as saying.

"Yes, 2.5 (million barrels per day), around," he said.

Javadi also said he expected the oil price to rise to around $80 a barrel by the end of 2016.

"From a commercial point of view, today's prices should be sustained and increase gradually," he said on the sidelines of the Asia Oil and Gas Conference in Kuala Lumpur.

"But it depends on the political situation and what's going on in the Middle East and Arabian countries."  
News ID 241121

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