Iran expects other members of OPEC to make room for its extra
oil when sanctions are lifted, the country's oil minister Bijan
Namdar Namdar Zanganeh said late Monday.
The remarks, which come as Saudi Arabia, the kingpin of the
Organization of the Petroleum Exporting Countries, recently said it
wanted to keep its production elevated, could signal tensions
between the two rival producers in the coming months.
"The Organization of the Petroleum Exporting Countries is
expected to create the necessary space for an increase in Iran's
oil supply on world markets," Mr. Zanganeh was quoted saying by his
ministry's oil agency Shana.
"Iran wants the return of its crude oil exports share to the
pre-sanctions level," which were about 1 million barrels a day
higher than today, he said.
He was speaking during a visit to Tehran by his Venezuelan
counterpart Asdrubal Chavez and THE Venezuelan foreign minister
Delcy Rodriguez.
Write to Benoit Faucon at benoit.faucon@wsjcom
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