ANKARA, May 6 (Reuters) - Iran is determined to regain its share of the crude oil export market when sanctions imposed over its nuclear programme are lifted, Oil Minister Bijan Zanganeh said on Wednesday, the ministry’s website SHANA reported.
“Oil-producing countries should create space for Iran when we increase our exports after sanctions are lifted ... Non of OPEC’s members are happy with the current oil prices and the market is oversupplied ... Political factors are behind the low prices,” Zanganeh said.
Western sanctions have cut Iran’s oil exports by more than half to about 1.1 million barrels per day (bpd) from a pre-2012 level of 2.5 million bpd. (Writing by Parisa Hafezi; Editing by David Goodman)