Iran is not responsible for the current instability in the oil market, Iranian Oil Minister Bijan Namdar Zanganeh stated today.
Some countries were for lifting the sanctions in respect of Iran and they did their best to reduce the price of oil in order to put pressure on Iran
"We can't freeze our own output, and in other words impose sanctions on ourselves," Zangeneh said.
With many international sanctions lifted under its nuclear deal with the U.S. and other world powers, Iran began exporting oil into the European market again and is eager to claw back market share. It produces 3.2 million barrels of oil a day now, with hopes of increasing to 4 million by April 2017.
