Thanks to the conditions in Market and the amount of oil produced by OPEC and non-OPEC member-states, threats on reducing Iran oil exports to zero is not possible, Iran's representative to OPEC said, IRNA reported.
Speaking in an exclusive interview with the Islamic Republic News Agency (IRNA) on Monday, Hossein Kazempour Ardabili said the conditions of the market and the production of countries are not ready for finding a replacement for Iranian oil and removing it from oil market.
Global demand for oil will still continue if it insists on reducing Iran's oil exports under US sanctions, he added.
Some parties, like Saudi Arabia, claim to have a surplus capacity, but we have not seen such increase in oil production, Kazempour Ardabili noted.
Saudi Arabia will not be able by itself to become a substitute for Iran oil, he reiterated.