Iran's oil output will remain at current levels, according to minister

Iran's oil output will remain at current levels, according to minister
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Published September 23rd, 2012 - 14:36 GMT via SyndiGate.info

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Iran's oil output is expected to remain stable
Iran's oil output is expected to remain stable
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Qassemi
,
European Union

"The amount of the country's crude oil production this year will be the same as the production last year," Qassemi told the Iranian students news agency.

Qassemi's remarks countered the reports released by the western media reports alleging that they expect Iranian production to fall by about 850,000 bpd by the end of this year to 2.7 million bpd, and fall by another 200,000 bpd in 2013.

Qassemi's remarks also showed inefficiency of the western sanctions on Iran's oil industry. The European Union banned imports of Iranian oil starting July 1.

Qassemi further added that a number of new oil and gas fields had been discovered in the last year and new figures for the country's reserves would be announced shortly.

"Iran's crude is being supplied on the world markets and Iran has its traditional buyers," Qassemi told Shana, Iran's oil news website, on Wednesday.

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©2012 Fars News Agency. All rights reserved

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