Tehran decided not to increase oil production?

In the case that all countries-members of OPEC, or at least most would agree to roll over the transaction to reduce production, Iran will certainly support their decision.

04.May.17 1:35 AM
By Christina Orlina
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Tehran decided not to increase oil production?

In the case that all countries-members of OPEC, or at least most would agree to roll over the transaction to reduce production, Iran will certainly support their decision. According to the Shana Agency, this was stated by Minister of oil industry of the country, Bijan Namdar Zanganeh.

If it is the Iran strictly observes the level of oil production, allowed the Vienna agreement – 3.8 million barrels per day, said the Minister. This implies that Tehran decided not to hurry with the implementation of their plans to increase production to 4 million barrels per day and above.

Note, however, that according to a recent statistical report of the OPEC, daily oil production in Iran in February this year amounted to 3,814 million barrels. And in January, Iranian production amounted to 3,778 million barrels per day. Consequently, over the last month Iran has been able to increase daily production for 97.6 thousand barrels.

And earlier Iran has repeatedly stated that it plans to 2021 to increase production to 5 million barrels per day. Therefore, still there is a possibility that reaching the restrictive straps, Tehran can step over. And the rest of OPEC countries prefer not to notice, because the failure of the deal will mean a new collapse in prices, which will affect all oil-producing countries.
In light of this fact it is obvious that the prolongation of the Vienna agreement very favorable to Iran, because it reduces the export opportunities of its competitors, and he himself hand almost does not bind

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