Iran says it will freeze oil production only after regaining market share

Iran must regain its share of the global oil market before it will participate in any agreement among oil producing countries to restrict supply, the chief of staff to President Hassan Rouhani said on Thursday.

“Of course the oil market has to be manged more wisely,” Mohammad Nahavandian said at the Royal United Services Institute in London.

“For Iran to participate in supply reduction, the prerequisite is to come to … the share of the market it had and then from that position help with a decrease in supply.”



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