Iran will increase crude exports with the end of international sanctions even if oil prices decline, the country’s representative to OPEC said, adding supply after a surplus sent Brent falling almost 50 percent last year.

Iran can double oil exports within six months of sanctions ending, Mehdi Asali said, according to state-run Islamic Republic News Agency. Iran produced 2.8 million barrels of oil a day in May, more than Venezuela and Nigeria, according to data compiled by Bloomberg.

By Financial Tribune