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Iran restores pre-sanctions quota serving market stability

Sep 4, 2016, 11:02 AM
News ID: 2666

EghtesadOnline: Deputy Minister of Petroleum for International Affairs and Trading Amir-Hossein Zamaninia said on Saturday that Iran restores pre-sanctions quota serving stability of the oil market.

He said Iran cooperates with OPEC on condition that its quota reaches the pre-sanctions level.

He made clear that there will be no market stability if a country wishes to produce to its maximum capacity, reports IRNA.

Zamaninia was speaking after the meeting of Iranian Minister of Petroleum Bijan Zanganeh and Algerian Minister of Energy Noureddine Bouterfa. 

He said the talks between the two sides figured prominently about OPEC, mutual petrochemical and LNG cooperation.

He added that market stability and talks on the upcoming non-official OPEC session on the sidelines of the IEF in Algiers and oil price were on the agenda of negotiations.