Iranian oil minister through its Shana news agency. Reuters reporting.
- Iran will continue increasing oil production until it regains its pre-sanctions market share
- Iran's oil production has increased by 1m bpd since Jan
- despite faiure Doha meeting was a positive step as OPEC members should do something to change the situation
Says oil minister Zanganeh:
"Doha meeting was not fruitful but we see it as a positive step as it initiated negotiations between OPEC and non-OPEC member countries and showed to the main producers in OPEC that something should be done to change the situation."
Nothing new in Iran's stance on pre-sanction output levels as we've reported previously and again this week. Iran's current out around 3.5m bpd vs the approximate 4.2m bpd target rate.
