Iran Targets $75 Oil Amid Plans for Post-Sanctions Output Boost
biggest producer, sees $70-$75 per barrel as a suitable price for crude, Oil Minister Bijan Namdar Zanganeh said, as markets show signs of a partial recovery from last year’s collapse. “Nobody is satisfied with current prices and instabilities and fluctuations,” Zanganeh said Wednesday at a news conference in Tehran. “I think everyone is very satisfied with $70 to $75,” he told reporters later. Iran would start to boost crude output in 10 days if international economic sanctions against it are removed, Zanganeh said. Production would climb ...
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