Iranian Minister of Petroleum Bijan Zangeneh says Tehran supports moves like the Doha conference which are aimed at tackling the consistent market volatility, saying that OPEC member "Iran has never had a role in the market instability".
“Currently, the oil market is glutted by more than 2 mbd which reduce the prices dramatically,” said the official.
By joining the oil freeze plan, Iran would implicitly accede to the sanctions after years of hard work and resistance for having them lifted, he added, saying, “If Iran kept its crude oil output at January levels, it would mean the sanctions were never lifted and exports would need to stay at the time the country was targeted by international restrictions.”
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