TEHRAN: Iran hopes its crude oil exports will return to pre-sanctions levels within three months once a deal with major powers to lift an oil embargo is finalised, the country’s deputy oil minister said on Monday.
“We hope we can come back to the export levels that we had before the sanctions,” Rokneddin Javadi, who is also the managing director of the National Iranian Oil Company, told Reuters.
“Yes, 2.5 (million barrels per day), around,” he said, adding that this could be achieved in about three months.
Javadi said the Opec producer expected to claw back lost market share in Asia.
“It depends on market situation and price level, but we will come back to the traditional trade that we had before,” he said, adding that Asia could take more than 50 percent of Iran’s exports.
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