Iran is trying to reassure its allies within Opec that its plan to raise exports once US and EU sanctions are lifted will not send oil prices even lower. “We will try to enter the market so that the oil price decline will not be exacerbated,” state-owned oil company NIOC’s director of international affairs Mohsen Qamsari said. Qamsari also said that Iran hopes to finalise crude supply talks with some European companies before sanctions are lifted, specifically mentioning Greece. Europe was purchasing around 500,000 b/d from Iran in 2011 before the sanctions.
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