(4 Dec 2015) Iran's oil minister said on Friday his country would soon reach an output of 2.4 million barrels per day.
Bijan Namdar Zangeneh made the comments before the start of the 168th OPEC conference in Vienna.
The meeting will likely decide to maintain the official OPEC level of 30 million barrels a day, urge members to cut back on overproduction and hope for better times next year.
That means oil could get even cheaper.
Ahead of their meeting Friday, there is recognition that the 12-member Organisation of the Petroleum Exporting Countries will be unable to nudge up prices, at least in the short term.
Non-OPEC countries like Russia and the US continue to challenge OPEC for customers.
And within the cartel, Iran and Iraq want to start pumping more, even though regional rival Saudi Arabia appears unwilling to play along by reducing its own output.
Iran's comeback is tied to the looming end of sanctions imposed over its nuclear programme.
Embargoes on Iranian oil are to be lifted over the next few months once a nuclear deal it signed with six world powers goes into force.
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