OPEC will welcome Irans return to oil market secretary general RT Business News
OPEC will welcome Irans return to oil market secretary general
US sanctions currently limit the countrys energy production
Getty Images / Funtay
Iran is a responsible partner and the countrys full return to the oil market will be welcome when the US lifts its sanctions, OPEC Secretary General Haitham Al Ghais told Irans Shana news agency on Monday.
Iran, which is a member of OPEC, is capable of delivering significant production volumes to the market over a short period of time, Al Ghais said on his first visit to Tehran.
However, the country has been the subject of US sanctions over its nuclear program, which target the oil and gas industry among other things.
Nonetheless, the restrictions have failed to completely stop Iranian oil exports since they were re-imposed by the Trump administration in 2016.
We believe that Iran is a responsible player amongst its family members, the countries in the OPEC group. Im sure there will be good work together, in synchronization, to ensure that the market will remain balanced as OPEC has continued to do over the past many years, Shana cited Al Ghais as saying.
Wednesday, May 31, 2023 at 6:01 am