Iran intends to restore its position on the oil market after the international sanctions are removed from it, Iranian Oil Minister Bijan Namdar Zanganeh stated.
"Once sanctions are lifted we will be able to return to the level of production which we had historically," TASS quoted Zanganeh as saying.
According to the Minister, immediately after the lifting of sanctions the country's oil production will be increased by 500 thousand barrels per day. After that, within the next five months the figure will rise again, this time by 1 million barrels per day. In general, the authorities plan to reach the level of 3.8-3.9 million barrels per day by March 2016.
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