Iran will agree to export oil at any price
Iran intends to sell its oil, whatever the prices are on the world markets, the head of the Ministry of Oil of the Republic, Bijan Namdar Zanganeh said.
"We have to sell our oil, regardless of whether the price is low or up to $100 a barrel. Even if we want to sell oil more expensivey, the price is determined by the market. After the lifting of sanctions, Iran will return its market share to the amount of 1 million barrels day,’’ Tass cites him.
Zanganeh also announced plans to increase production of Iran by 500 thousand barrels a day after the lifting of sanctions.
Prior to that, in July, the Minister of the Republic announced its intention to increase this figure to 4.7 million barrels a day.
As the Professor of the department of state regulation of the economy of the Institute of Public Administration and Management (IGSU) RANHiGS, Olga Malikova, noted in a conversation with a correspondent of Vestnik Kavkaza, despite the fact that Iran is to implement these plans, they already have already had a noticeable impact on the situation on the world markets.
"It is Iran's oil production capacity and the intention to further increase its exports that has become one of the major factors of the decline in prices for this resource,’’ she noted.
"On the one hand, they are influenced by the long-term downward tendency in oil prices associated with the success of new technology and lower costs of production in complex fields. On the other hand, it is the consequence of the fact that Iran has announced the extension of its production and oil supplies to the world market. This has greatly affected the prices in terms of reduction. In addition, we have bad news from the world's stock exchanges. These factors can put pressure on oil prices,’’ Olga Malikova said.
In turn, an assistant professor of government regulation of the economy, seputy head of the department of state regulation of the economy on educational work of the Institute of Public Administration and Management (IGSU) RANHiGS, Ivan Kapitonov, assesses the return of Iran to the market more carefully.
"The matter is in the amount which they are willing to provide to the market. I understand that the infrastructure of Iran was standing idle for a long time, so during the first year they won’t be able to export significant volumes that can affect world prices," he concluded.
