Bijan Namdar Zanganeh
Last quote by Bijan Namdar Zanganeh
Bijan Namdar Zanganeh quotes
OPEC made an exceptional decision today ... After two and a half years, OPEC reached consensus to manage the market.
We have decided to decrease the production around 700,000 bpd.
It's not my mission to be optimistic or pessimistic.
We support oil prices between $50 and $60 per barrel.
Iran wants a stable market and therefore any measure that helps the stabilization of the oil market is supported by Iran.
This is the first step and other steps should also be taken. This cooperation between OPEC and non-OPEC members to stabilise the market is good news. We support any effort to stabilise the market and prices.
(In) less than 10 days we're going to start to increase our production and during a maximum of six months, we will reach close to 3.8 [million barrels], and at the end of this year, the Iranian year, we will reach four million barrels per day crude oil output.
I'm sure that all OPEC members show wisdom and when member countries, after limitation, return to the market they understand (that) they should open the doors for him and not fight with him.
We should be very concerned about it, action is needed.