Iran: no oil output freeze until it restores pre-sanctions level

Iran won’t consider a Crude oil production freeze until it reaches its pre-sanctions level of output of 4.2 million barrels a day, a senior energy official said Thursday.

Mehdi Hosseini, who heads the oil contracts revision committee at Iran’s Petroleum Ministry, said a freeze at anything less than that would be a continuation of the sanctions imposed on his country as a result of its disputed nuclear program.

“Our pre-sanction production was something around 4.2 (million barrels per day), and our exports was something around 2.5, 2.6 (million barrels per day) or so” Hosseini said on the margins of an oil conference in Paris. “Therefore any other figure less than that it means another sanction against ourselves. It is something we cannot accept.”

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