Iran to increase oil exports after the lifting of sanctions

Tehran not expects oil prices up above 60 USD per barrel until 2016

Baku. 6 March. REPORT.AZ/ In case of cancellation of Western sanctions, Iran plans to increase oil exports to occupy a larger market share. Report informs referring to Russian RIA Novosti agency, the Head of the foreign department of the National Iranian Oil Company (NIOC) Mohsen Gamsari.

At the same time, he predicted that oil prices will not up above 60 USD per barrel:"We don't expect oil prices rise above 60 USD per barrel until 2016. What happens after that is unclear. When the sanctions are lifted, we will obtain legal right to increase oil exports to have a greater share in oil market", said M.Gamsari.

The US and EU sanctions applied in 2012, designed to force Tehran to abandon its nuclear program, prohibit the import, purchase and transport of Iranian oil and oil products.

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