- International Energy Agency executive director Fatih Birol: Iran does not add as much as expected oil to the market
Market news
30 March 2016
International Energy Agency executive director Fatih Birol: Iran does not add as much as expected oil to the market
The International Energy Agency (IEA) executive director Fatih Birol said in an interview with Reuters on Wednesday that Iran was expected to add 500,000 barrels a day within a year after the lift-off of sanctions in January.
"It was misleading to believe that there would be a huge amount of new Iranian crude and natural gas production entering market in the short term," he said.
Birol said that the country would need time to develop new oil fields.
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