UPDATE 1-Iran's oil output to reach pre-sanctions level by June, official says | Reuters:
"Iran's crude oil production will reach pre-sanctions levels within two months, a deputy oil minister was quoted as saying on Tuesday, a signal the OPEC member might be willing to discuss an output freeze by the time when the exporting group meets next.
Talks between OPEC and non-OPEC producers to freeze production unexpectedly broke down on Sunday when Saudi Arabia insisted that all OPEC members, including Iran, and non-OPEC oil exporters should join in the deal.
Iran, which was relieved of sanctions in January, is concerned at oversupply but is insisting on ramping up its production to pre-sanctions levels and reclaiming its market share before it will consider freezing output."
'via Blog this'
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