Exports could hit 2.3 million barrels a day, deputy oil minister Moazami says
TEHRAN—Iran wants to double its crude-oil exports soon after sanctions are lifted and is pushing to convince fellow members of the Organization of the Petroleum Exporting Countries to renew its quota system, a top Iranian official said.
Both developments could set up a clash with Saudi Arabia, which is scrambling to raise its own export numbers and has opposed the return of production limits on individual OPEC members. They underscore how Iran’s full return to the export market would upend the status quo among big oil-producing countries as the Islamic Republic appears to be nearing a deal with six world powers that would lift sanctions in exchange for nuclear-program curbs.
A deadline for a deal is Tuesday. Officials said the elements of an agreement were falling into place over the weekend, though its prospects remained uncertain.
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