Iran looks at private exports to help beat US oil sanctions

A flare on an oil production platform in the Soroush oil fields is visible next to an Iranian flag in the Persian Gulf. reuters file

Dubai, July 1

Iran will allow private companies to export crude oil, as part of a strategy to counter US sanctions, and urge other members of the United States to OPEC, whose regional rival state media and officials said Sunday.
Iran is looking for ways to continue exporting oil as well as other measures to counter the sanctions after the US has told its allies to cut off all Iranian oil imports from November.
"Iran's crude oil will be offered on the stock exchange and the private sector will be able to export it seamlessly," said First Vice President Eshaq Jahangiri at an economic event in Tehran televised live on television d & # 39; State.
"We want to defeat US efforts to stop Iran's oil exports," he said.
"The oil is already offered on the stock market, about 60,000 barrels a day, but that has only been for oil products exports," Jahangiri said. Iran has a petroleum and petrochemical exchange as part of its trade.
Meanwhile, the Iranian Minister of Petroleum, Bijan Zanganeh, sent a letter to OPEC asking its members to respect the group's agreement reached last month to collectively increase production and "s & # 39; to refrain from any unilateral measures which could jeopardize the unity of the producer group.
Mr. Jahangiri said: "Anyone who attempts to remove the Iranian oil market would commit great betrayals against Iran and pay it one day."
The head of Saudi Arabia has promised US President Donald Trump that he could increase oil production if needed and that the country has 2 million barrels a day of spare capacity, the House announced Saturday. white.
The Organization of the oil exporting countries agreed with Russia and other oil producing allies on June 23, to increase production from July, Saudi Arabia s & # 39; 39, committing to provide "measurable" badistance, without giving precise figures.
"Any increase in production by a member country beyond the commitments stipulated in OPEC's decisions … would be a violation of the agreement," writes Zanganeh in his letter, seen by Reuters and also reported by the media Sunday. – Reuters

Saudi Arabia badured the US president that the kingdom can increase oil production if needed and that the country has 2 million barrels a day of unused capacity that could be deployed to help cool prices petrol. offset the drop in production in Venezuela and Iran