(MENAFN- Kuwait News Agency (KUNA)) Oil Minister Bijan Namdar Zangeneh said on Wednesday that Iran will not give up its quota in OPEC and its share in world market.
Speaking on Iranian TV, Zangeneh said Iran will raise exports even if the oil prices fall.
"The Islamic Republic of Iran will by no means ignore its quota in OPEC and the world oil market. We have no problem with slashing of oil prices on the global market because we can double our oil exports," said Zangeneh, adding, "We should bypass the tyrannical conditions imposed on our country because maintaining Iran quota in OPEC and world market is among our vital parameters." He said, "Those should be concerned that have extra income and production in the world markets; On what ground should Iranian government do something to lose its historical share in the oil market just because oil prices should increase."
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