Iran to return oil output to pre-sanctions level

Crude oil

IRAN says it is ready to return its crude oil production to pre-sanctions levels at the earliest possible time, the Iranian oil ministry said.

Iranian Petroleum Minister, Javad Owji made the remarks on the sidelines of the 31st OPEC and non-OPEC Ministerial Meeting, which was held via a videoconference.

Owji expressed the hope that major Western governments would understand correctly the world’s present sensitive and critical circumstances and adopt a logical approach toward ensuring global energy security.

He warned that this year’s winter is very important for the entire world, Europe in particular, calling on the Europeans to think of solutions in advance.

The minister said Iran has frequently highlighted the necessity of de-politicising the energy sector, stressing that the return of Iran’s oil to the world market can help restore balance and calm to the market.

He added that Iran has always held that undermining global energy security and intensification of market fluctuations is a zero-sum game for all players.

Owji’s remarks came as the delegations from the remaining signatories to a 2015 nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), as well as the U.S. delegation, are currently in the Austrian capital of Vienna for a fresh round of the talks on reviving the agreement.

Former U.S. President, Donald Trump pulled the U.S. out of the deal in May 2018 and reimposed sanctions on Iran, which responded by abandoning some of its nuclear commitments under the JCPOA.

Eight rounds of talks on restoring the deal have been held in Vienna since April 2021, but have so far failed to reach a breakthrough. (Xinhua/NAN)

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