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Business / Energy

Iran says oil export rise had no negative effect on market: Shana

Published: 01 Jun 2016 - 08:52 am | Last Updated: 02 Nov 2021 - 08:19 am
Peninsula

A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, in this July 25, 2005 file photo. Reuters 

 

DUBAI: Iran's doubling of oil exports has had no negative effect on the market, the country's oil minister said on Wednesday before flying to Vienna to attend an OPEC meeting, the ministry's news agency SHANA reported.

"Iran's oil exports have been doubled, in between OPEC's 168th and 169th meetings. This increase has had no negative effect on the market and has been absorbed in the market," Bijan Zanganeh was quoted as saying.

Reuters