Iran plans to raise oil exports

Iranian Oil Minister Bijan Namdar Zanganeh says the Islamic Republic will soon increase its oil exports in spite of the restrictions imposed on the country's energy sector, Iranian state-run media outlet Press TV reports on Friday.

“Production capacity and output are the primary factors that elevate the status of countries in international markets, [thus] Iran’s oil production capacity must return to the 2005 level in six to seven months,” Zanganeh is quoted as saying by the news agency.

The Iranian official also stressed that the country’s oil sector is facing many obstacles, but underlined that Iran, as an influential OPEC member, needs to boost its crude exports and make a strong return to international oil markets.