By: Ramy Sameeh
Muscat-Mubasher: Iran supports the production-freezing agreement concluded in Doha between the world’s oil producers, Ali Akbar Sibawayh, Iranian ambassador to Oman, said on Wednesday.
Sibawayh told Mubasher on the sidelines of a conference held in Muscat that Iran’s oil production has been increasing, yet the country supports OPEC in any agreement it reaches.
Iran produces around 2.8 million barrels per day, of which 1 million barrels are exported.
Earlier, the Islamic Republic announced that it will raise its daily oil output by 500,000 barrels.
“We are all members in OPEC and should take into account the region’s conditions, especially that the current situation is not favourable for all,” added Sibawayh.
Saudi Arabia, Qatar, Russia and Venezuela agreed to freeze oil production at January levels in an attempt to support oil prices which reached their lowest levels in 12 years.
He said, “We hope the oil market will recover for the sake of the region’s economies”.
Translated by: Julian Nabil
