Minister: Iran Ready to Pump More Oil
TEHRAN -- Iran, whose energy trade is pressed by U.S. sanctions, is ready to pump more oil as the world needs the crude to balance supply and demand and calm prices, oil minister Javad Owji said.
Iran could increase production to levels before the sanctions, he said, without giving an estimate of current output. “There are some worries about oil supply shortage in the coming months,” he said, despite some concerns about economic slowdown and possible curbs to demand because of geopolitical tensions.