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Iranian oil exports will be back to 2.5 million barrels per day in three to six months after the sanctions are lifted, said Iran’s Deputy Oil Minister Rokneddin Javadi.

Javadi also said he expected the oil price to rise to around $80 a barrel by the end of 2016, reported Reuters.

“It depends on market situation and price level, but we will come back to the traditional trade that we had before,” he said, adding that Asia could take more than 50 percent of Iran’s exports, reported Lenta.

Rokneddin Javadi added that the Organisation of the Petroleum Exporting Countries (OPEC) is unlikely to implement a production cut.

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