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Iran to raise oil output 'at any cost'

24 August 2015 10:02 (UTC +04:00)

Baku – APA-Economics. “Iran plans to raise oil production “at any cost” to defend the country’s market share and joins calls for an emergency OPEC meeting to help shore up crude prices. We will be raising our oil production at any cost and we have no other alternative,” said Oil Minister Bijan Namdar Zanganeh, according to his ministry’s news website Shana, Rigzone reported.

“If Iran’s oil production hike is not done promptly, we will be losing our market share permanently.”

Iran backed calls for an emergency OPEC meeting to be held earlier than the oil producing group’s next session on Dec. 4.