VIENNA (Sputnik) – On the sidelines of the Iran-EU Conference on Trade and Investment, Zamaninia told journalists:
“Iranian oil will be on the market in a few months, after the sanctions are lifted, and within a year after that will be a million barrels per day in a market. We expect that OPEC members will accomodate it."
According to the National Iranian Oil company, the country's oil supply can increase to up to four million barrels per day from the current three-million-barrel level.
According to a 2015 British Petroleum statistical review of world energy, Iran has the fourth-largest proven oil reserves in the world. Exporting this oil had been significantly limited due to sanctions imposed by the United Nations in 2006 over concerns about Tehran’s nuclear program.
