Addressing a Tuesday press conference, Mohammad Bagher Nobakht said efforts must be made for regaining the country's market share now that prospects for the removal of sanctions is bright thanks to the July 14 deal Iran clinched with world powers over its nuclear program.
"We believe it is incorrect to say that Iran must not return to the market so the prices will not fall any lower," he said. "We must close ranks to revive our share in the oil market."
"Last year, in a planned move to put more pressure on the Islamic Republic in the talks, oil prices slumped dramatically. Now that Iran's return to the market is the case, the same efforts are being made [to keep the prices low], but we are resolved to revive our market share and those who are supplying more than their quota must retreat."
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