Iran agreed to freeze the production of oil – BBC

Iran agreed to freeze the production of oil. On Wednesday said the Iranian Oil Minister Bijan Namdar Zanganeh after talks in Tehran

«Iran will support any step aimed at improving the situation on the crude oil market and rising oil prices, -. Quoted Zanganeh Iranian news agency Shana . – We welcome the cooperation from both

, outside the organization, “the OPEC countries, as well as with Member States According to the Iranian minister, the proposal made by the previous day at the negotiations in Qatar, Doha. , was adopted “in order to stabilize the market and to improve the situation with oil prices, as well as in the interests not only of consumers but also producers of hydrocarbons» .

in the news that Iran agreed to freeze production, the price of a barrel of Brent on London’s ICE exchange rose 6.3% to $ 34.34 (as of 20.10 MSK)

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On Tuesday, Russian energy Minister Alexander Novak met with his counterparts from Qatar, Saudi Arabia and Venezuela. Following the talks, a solution was worked out on the freezing of oil production at the level of January 2016, but under the condition that this position will be supported by other manufacturers.

At the same time Iran was initially considered the main potential enemy freezing. From the very beginning of the meeting in Tehran reported that it passes “in a negative atmosphere” (as Sputnik news agency quoted). The agency, citing a source close to the talks, told that no one expects easy reach agreement.

After the abolition of the US and European sanctions on January 16 of the Islamic Republic of Iran is beginning to increase production and export of oil, as warned as early as 2015. According to the director of the National Iranian Oil Company (NIOC) Rukneddina Javadi, Iran in January it has increased its production by 0.4 million barrels a day, expected to bring further growth of production up to 1 million barrels a day. Thus, the total production of the IRI would be about 4 million barrels per day (ie approximately dosanktsionny level).

With regard to exports, the first tankers of Iranian oil have been sent to Europe. Deliveries are for France, Spain and Russia, though, as previously reported, in the latter case on the fact of oil will go to Romania – Romanian refinery, owned by “LUKoil”. According Javadi on Wednesday, the second batch will be sent to the European markets before the end of February.

Iran on Tuesday said he was ready to cooperate in order to increase the price of oil. But at the same time, according to Bijan Namdar Zanganeh, “from its oil quotas will not give up»

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on Wednesday, the newspaper Shargh daily, citing Tehran’s representative to OPEC Mehdi Asali said that Iran considers a proposal to freeze production for itself illogical, as in the period before Iran was under sanctions, other countries are significantly increased volumes of oil production, and this caused a decrease in quotations. “Now other countries are waiting for Iran’s cooperation and require an even greater decline in production”, – Asali said, once again stressing that Iran intends to increase oil production to the level preceding the sanctions

Earlier, Minister of Venezuelan oil Eulogio del. Pino said that the Ecuadorian ministers of Algeria, Nigeria and Oman supported the decision to freeze oil. Media, citing sources reported that the initiative is also ready to support Iraq, Kuwait and Bahrain.

Bijan Namdar Zanganeh said that the freezing was the first step, but this step should not be the only one. In addition, he said, to judge the impact on the market of the decision will only be possible after some time.

Experts doubt that Iran actually freeze production, not to mention nothing of any further steps.

«Now all Iran’s actions (forced accumulation start oil supplies to new markets and the launch of previously mothballed production capacities) say exactly that Iran aims precisely to increase oil production – explains partner Michael Rusenergy Krutikhin. – In addition, the remaining participants in the negotiations actually froze its prey at the peak, while Iran only began to “accelerate” after the lifting of sanctions. A Tehran just need to win the lost for the sanctions period, the market share »

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Russian oil production in January amounted to 10.878 million barrels per day. OPEC countries together on a daily basis extracted 32.33 million barrels (though installed by the same cartel quota for oil production is 30 million barrels per day). The leader of the cartel, Saudi Arabia in January was producing 10.2 million barrels daily. Iran produces about 3.2 million barrels a day.

The Deputy Minister of Energy Kirill Molodtsov told Tass on Wednesday that Iran is expedient to enter the oil market gradually, maximizing revenue at each stage. According Molodtsova, Iran might choose a strategy of “pouring” oil market to give any possible income, but only if the country would not have the money. “And the money they have, of the order of $ 100 billion,” – said Molodcov

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