Iranian Deputy Oil Minister: OPEC unlikely to cut output

Three months after lifting of Western sanctions Iran hopes to return oil exports to the level before sanctions

Baku. 18 May. REPORT.AZ/ Organization of Petroleum Exporting Countries (OPEC) is unlikely to take a decision to cut oil production at its meeting in June.Report informs referring to Reuters, it was said by the deputy oil minister of Iran Rokneddin Javadi.

According to him, Iran also hopes to bring exports about 2.5 million barrels a day which was prior to the introduction of sanctions, for three to six months after the lifting of the oil embargo.

OPEC will hold a meeting on June 5, during which the possibility of reducing oil production can be discussed.

Javadi also said that the Iranian authorities are planning to hold a conference in September in London to attract investors for the exploration and extraction of "black gold".

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