Mehdi Assali, Iran’s national representative to the Organization of Petroleum Exporting Countries (OPEC), has been quoted by the media as saying that Iran has no concerns over the falling prices given that even oil at $30 per barrel will push up the country’s economic growth by around five percent in 2016.
This, Assali said, is because Iran will double its current oil production next year after the removal of the sanctions.
He further said that OPEC member states still need a strong political will to reduce their supplies and give way to the incoming Iranian extra supplies. Their failure to do so, the Iranian envoy warned, will lead to further plunges in the prices, IRNA has quoted the Iranian envoy as saying.
