Iranian President Hassan Rouhani has forecasted that his country's oil exports in the new Iranian calendar year (starts March 21) will reach two million barrels per day.

Rouhani made the remarks speaking to reporters on the sidelines of a cabinet meeting March 16 morning, Fars news agency reported.

Recalling that the international sanctions on Iran's financial sector have been removed, the president vowed that the already launched process of economic growth will continue in the new Iranian year.

According to the International Energy Agency, Iran exported 1.4 million barrels of oil per day in February and is expected to boost the figure by 150,000 barrels per day in March.

Rouhani's comments on Iranian oil exports come amid the ongoing talks over a plan put forward by Saudi Arabia and Russia to freeze oil production with an aim to keep prices from bottoming out.

Iran refuses to join the said plan as Tehran aims to regain its market share lost during the sanctions period.

Earlier on March 13, Russian Energy Minister Alexander Novak said he acknowledges Iran's right for increasing oil production.

Iranian Oil Minister Bijan Namdar Zanganeh also said his country would not consider freezing production unless the country's output reaches four million barrels per day.

Commenting on the output freeze plan, the Iranian government's spokesman, Mohammad Bagher Nobakht has said "the move means that they don't want to recognize Iran's right to revive its pre-sanctions output".

OPEC's total oil production in February averaged 32.38 million barrels per day, a decrease of 175,000 barrels per day versus the previous month.

According to the OPEC Monthly Oil Market Report, crude oil output decreased mostly in Iraq, Nigeria and the UAE, while production increased in Iran, Saudi Arabia and Kuwait.

Source: TREND