Speaking in a local ceremony in the western province of Lorestan, he said that Iran preserved its share of ill export in the OPEC meeting and is expected to add 90,000 bpd to its current production level.
Vaezi compared the success in preserving the oil quota with Iran’s success in the nuclear talks with G5+1 which resulted removal of Iran’s sanctions.
The current government enhanced the level of oil export from 1 million bpd to 2.4 million bpd, he noted when elaborating the government achievements.
The non-oil export balance has become positive for the first time, the minister added.
He reminded 40 percent inflation in the country during President Mahmoud Ahmadinejad period and noted that the inflation has decreased to 8 percent and it is expected that the country experiences 5 percent growth in this Iranian calendar year (started March 20, 2016).
Referring to Iran’s constructive role in the region, Vaezi noted that regional issues can not be solved without Iran’s help.
Members of the Organization of the Petroleum Exporting Countries (OPEC) agreed on November 30 to cut the groups crude oil production by 1.2mbd in their November 30 meeting in Vienna.
Besides it was proposed that non-OPEC supplies should agree to cut their output by 0.6mbd in order to tackle the oil price slump.
Two months ago in Algiers an agreement was outlined based on which the OPEC and non-members were obliged to cut their productions in order to stabilize the market.