Iran to reclaim its oil market share if sanctions lifted: EX-official
Former Director of International Affairs of the National Iranian Oil Company has said that a full return of Iran’s oil to the market could affect prices and boost supply stability.
Mohsen Qamsari said in an exclusive interview with ILNA that “Europe is not entirely dependent on Iran’s oil, but a full return of Iran could affect prices and boost supply stability, on the condition that Iran can enter oil to the market under the same volume of pre-sanctions.”
Commenting on the impact of the cancellation of the OPEC oil production cuts deal on the returning of Iran’s oil to the market in case sanctions are lifted, he said that “because of sanctions Iran now does not abide by rationing so cancellation of the agreements does not have any effect on Iran’s condition.”
“If sanctions are lifted, we can evaluate our share and have a claim,” he added.
He said that after the lifting of the sanctions our first market would be Asia and then Europe.