Iran called timing of return to previous volume of oil exports

Thus Iran will be the fourth largest oil exporter instead of eight

Baku. 18 May. REPORT.AZ/ Iran hopes to return to the level of oil exports dosanktsionny three months after the lifting of Western sanctions, said deputy head of the Iranian Oil Ministry Rokneddin Javadi.

Report referring to RIA "Novosti", so Iran will be the fourth largest oil exporter instead of eight, and its share of world exports will grow from 5% to 6%.

"We hope that we can return to the levels of exports that we had before sanctions" - quoted Reuters to Javadi.According to the agency, the Deputy Minister hopes to bring exports about 2.5 million barrels a day for a specified period. He added that half of the total exports may fall on the share of Asia.

Javadi suggests that oil prices could rise to around 80 dollars per barrel by the end of 2016. "From a commercial point of view, today's prices should be maintained and gradually increase", said Javadi at a conference on oil and gas in Kuala Lumpur.

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