Iran oil minister: OPEC will ‘coordinate itself’ to accommodate renewed Iran exports

BEIJING (Reuters) – The Organization of Petroleum Exporting Countries (OPEC) will “coordinate itself” to accommodate Iran’s return to oil markets without causing a price crash, Bijan Zanganeh, Iran’s oil minister, told Reuters on Thursday, during a visit to Beijing.

Members of OPEC should also discuss production levels before June’s meeting, he said.

Iran, once the No.2 exporter of OPEC, is looking to ramp up its crude oil exports quickly if a final agreement is reached with the six world powers over its nuclear program, and sanctions are lifted.

(Reporting By Chen Aizhu and Adam Rose- Editing by Jacqueline Wong)