Baku-APA. Iran is determined to raise its oil output by 500,000 barrels per day as soon as sanctions on its oil industry are lifted, Iran's national representative to the Organization of the Petroleum Exporting Countries (OPEC), Mehdi Asali, said on Saturday, APA reports quoting IRNA.
"We have not moderated our plans regarding increasing output when sanctions are lifted. It will be increased by 500,000 bpd, and by another 500,000 bpd shortly after that," Asali was quoted as saying by the state news agency IRNA.
His comments came ahead of the expected lifting of international sanctions on Iran later on Saturday as part of a landmark deal between major powers and Iran to curb Tehran's nuclear program.
He said Iran had no intention of entering an oil price war with rival producers.