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Iran’s Oil Minister Bijan Zanganeh says Iran will boost crude exports by around 1mn b/d from the current 1.2mn b/d by mid-2016.
While this ramp-up timeline is ambitious to say the least, no-one should doubt that the Islamic Republic will pursue efforts to regain what it sees as its rightful share of international crude markets. The minister even went so far as to say Iran would boost output and exports “even if the price of oil falls to $20/B.”
In a tongue-in-cheek attempt to provide some assistance, MEES looks far and wide to track down Iran’s ‘lost’ market share.
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