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June 7th, 2015 
David Schulberg Speaking to reporters on Saturday, Mehdi Asali said Iran’s renewed presence in international oil market will not have a negative impact on crude prices, provided that other oil producers that have taken up Iran’s share of the market reduce their output to help the market reach a balance at a new point.
Asali, who is Iranian Ministry of Petroleum’s secretary for OPEC affairs and relations with energy organizations, added that during the 167th ministerial meeting of the Organization of the Petroleum Exporting Countries (OPEC) in the Austrian capital city of Vienna last Friday, Iran told OPEC secretariat that once international sanctions against Tehran are lifted, it will boost crude output to pre-sanctions level.
“If countries that have been filling Iran’s void in the market do not reduce their output upon Iran’s return, oil prices may fall and those countries would be losers because Iran would double its crude exports and even if prices are reduced by half, the country will not be at loss in financial terms,” he warned.
The official said Iran is currently exporting one million barrels per day (bpd) of oil, but it can increase that figure by 500,000 bpd in a short period of time following removal of sanctions and can add another 500,000 bpd in a matter of six months afterwards.
MG
Source Article from http://english.irib.ir/news/iran1/item/210783-iran-s-oil-market-return-not-to-cause-oil-price-fall-official
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