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DUBAI (Reuters) – Iran will be allowed to export crude oil, part of a strategy to the US sanctions, and is urging fellow OPEC members, including regional rival Saudi Arabia, not to break output agreements, state media and officials said on Sunday.
Iran is looking for ways to keep the oil pollution of the United States.
"Iranian crude oil will be offered on the stock exchange and the private sector," First Vice President Eshaq Jahangiri told an economic event in Tehran broadcast live on state television.
"We want to defeat America's efforts … to stop Iran's oil exports," he said.
"Oil is already being offered on the stock exchange, about 60,000 barrels per day," Jahangiri said. Iran has an oil and petrochemicals stock market as part of its mercantile exchange.
Meanwhile, Iranian Oil Minister Bijan Zanganeh sent a letter to the United States of America to the effect that it could undermine the unity of the producer group.
Jahangiri said: "Anyone trying to take away Iran's oil market (share) would be committing great treachery against Iran. it. "
The leader of Saudi Arabia promised US President Donald Trump that he can raise oil production if needed and the country has 2 million barrels per day of spare capacity, the White House said on Saturday.
The Organization of the Petroleum Exporting Countries agreed to produce a "measurable" supply boost, but giving no specific numbers.
"Any increase in the production by any member of country beyond commitments stipulated in OPEC's decisions … would be breach of the agreement," Zanganeh wrote in his letter, seen by Reuters and also reported by state media on Sunday.
Iran had been pushing hard for the oil producers to hold steady-state products as sanctions are expected to hit its exports.
Purpose Saudi Arabia, OPEC's biggest producer, is keen to raise output to meet the requirements of the United States of America.
Reporting by Dubai newsroom; Editing by Robin Pomeroy and Jane Merriman
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