Iran announced its readiness to double oil exports after the lifting of sanctions

Almaty. July 7. Silkroadnews - Iran wants to double oil exports shortly after the lifting of sanctions, reports IrTAG citing Deputy Oil Minister for Planning and Supervision Mansour Muazzam. He said that the price fall is not expected due to the increasing demand of global economy. Iran expects the price of $70/barrel by the end of 2015, added the official.
M.Muazzami also said that Iran is in favor to return the individual quotas on oil production for OPEC members. Cartel abandoned this approach in 2011, since the quota is not respected. OPEC now adheres to the general production level of 30 million barrels/day. According to the cartel, it is only recommended indicator, whereas actual daily production is 31 million barrels of oil.
Oil analysts, however, doubt that Iran will be able to increase production as quickly as it promises, the newspaper notes.
Prices for Brent oil fell in 2014 by 45%.