An increase in Iranian oil output will boost the country’s political power, Oil Minister Bijan Zanganeh said as Tehran and world powers pursue talks to lift U.S. sanctions that have stopped it from pumping anywhere near capacity since 2018

OPEC has managed to raise crude prices and stabilise the oil market, Iran’s oil minister said. “OPEC’s performance has been successful because the price of oil has risen from $16 in May to around $45 and has stabilized”