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Daily oil revenues up by $30mn

Deputy oil minister, while pointing to Iran’s talks with OPEC members on reaching equilibrium in the market, said Vienna freeze deal has lifted the country’s daily crude income by 30 million dollars

Daily oil revenues up by $30mn
(Thursday, March 30, 2017) 14:27

Iranian Deputy Oil Minister for International Affairs Amir Hossein Zamaninia said Iran would continue talks with all OPEC members in a bid to reach further coordination among producers in line with capping output and bringing balance back to supply and demand.

The official stated that Tehran and Riyadh, despite political disputes, have conducted bilateral dialogue in line with financial interests and collective interests of the Organization of Petroleum Exporting Countries (OPEC).

“In view of current status of crude production and exports, Iran’s daily oil revenues have risen by 20 to 30 million dollars,” noted the official reiterating that the uplift in incomes has been made possible through the oil freeze agreement reached by OPEC member countries.

Zamaninia underscored that talks with the 13-nation oil cartel would be pursued until full equilibrium is reached in the market; “presently, Iran enjoys more bargaining power in OPEC given that its output has climbed to about 3.9 million barrels per day.”
Meanwhile, Iranian Petroleum Minister Bijan Zanganeh, while emphasizing that Iran assumed no barrier to talks with Saudi Arabia on oil market issues, recently said bilateral talks will continue within framework of national and mutual interests.


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