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Iran's oil production reaches two-year high

Sberbank: If a positive decision is not made in Doha, the oil price will drop to 35 USD/barrel

Baku. 13 April. REPORT.AZ/ In March, compared to February, Iran's crude oil production increased by 139 thousand barrels / day or 4.4% and reached 3 291 thousand barrels. Report informs referring to OPEC statement, it is the highest level of production in last two years.It should be noted that in January, Iran's daily oil production was 2 944 thousand barrels.Iran's oil production in two months, rose by 347 thousand barrels/day, or a 11.8%.

According to Iranian officials, Iran will not attend a summit of oil producing countries to be held on Sunday in Doha.

Earlier, Iran said it could begin negotiations only after increasing production to the level of 4 million barrels a day.This reduces the likelihood of a positive outcome of the meeting. Experts estimate the probability of the failure of the summit in Doha in 20%.

Sberbank analysts predict that if the negotiations to freeze oil productions fail, the dollar could rise to 75 RUB/USD at oil prices below 35 USD per barrel.

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