The oil Minister of Iran Bizhan Namdar Zanganeh
announced that the country is ready to increase the oil production to 5.7 bln barrels
per day if the sanctions against the country are abolished.
The Iranian
government intends to perform sales in the Asian market, not in EU markets.
Zanganeh commented also that Iran expects OPEC to regulate
the quotas so that Tehran to obtain the share of the market to which strives.
Currently the oil cartel has not reduced yet the production
quotas, although oil price fell to around 50 dollars a barrel.
The meeting of the leaders of the organization will
be held in early June.
I look forward to see what will be the development
of the oil market after the decisions,that will be taken on this meeting.
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