Iran intends, instead, to increase the level of oil production after the lifting of sanctions
The Iranian authorities declared that do not see the logic in limiting oil production level and do not intend to accede to the relevant agreements concluded Tuesday in Doha by representatives of Russia and the three countries of OPEC.
According to officials, responsible for interaction with Iran OPEC, many countries increased the oil production level at the time, Tehran has been under sanctions of the West. Now that these sanctions are abolished, to increase the level of production is determined Iran itself.
Tehran’s decision makes impossible the implementation of the signed Doha agreement, as required in the consent it States on similar measures of all countries-members of OPEC, which includes Iran. It is not excluded that the negotiations will continue.
Some other member countries of the oil cartel have already voiced support of the agreement. In particular, readiness to accede to freeze the level of oil production officially announced the Kuwaiti authorities.
According to the Ministry of oil country Kuwait to secure the oil production level in the country at the current level of 3 million barrels per day. However, it will do this only if the agreement will be implemented with the participation of all members of OPEC.
The agreement on the freezing of oil production at the level of January of this year, signed by Russia, Saudi Arabia, Qatar and Venezuela. Together, these countries produce approximately a quarter of all world reserves.
The purpose of the agreement is considered to be improving steadily falling oil prices. While markets reacted skeptically to the results of the Doha meeting, as the participants have to agree even with 10 countries including Iran.
