0441 GMT December 12, 2019
Iran, in bilateral and multilateral meetings with OPEC and non-OPEC oil producers, supported every effort to revive logical and justified prices.
The statement said that because of drastic fall in Iranian oil export due to the sanctions, Iran needs to bring its output to the pre-sanctions level, prior to making decision about output cut.
Iran has no share in the current over-supply in oil market, so Iran should not be expected to cut the current low output to bring balance to the market.
The statement said that Ministry of Petroleum decided to rehabilitate its production status by making recovery of the pre-sanctions output.
Joint meeting of OPEC and non-OPEC oil producers will be held in Doha, Qatar, on April 17, 2016.