Russia wants to take part in Iran's energy projects

ANKARA

Russia wants to take part in Iran's energy projects, said Russia's energy minister in a briefing with reporters that was made public Friday morning.

Iran's return to the oil market will be a major topic when Russia and the Organization of the Petroleum Exporting Countries (OPEC) secretary-general Abdullah al-Badrimeet on July 30 in Moscow, Alexander Novak said during a press conference.

The lifting of sanctions may lead worldwide oil production to increase by 2.5 million barrel per day, Novak said, adding he did not expect a decrease in oil prices.

Brent crude oil prices fell 2.6 percent on Tuesday as Iran and the P5+1 group reached a final nuclear deal that will see the removal of sanctions against Tehran.

The price of the global benchmark Tuesday decreased to as low as $56.76 per barrel, after it opened at $58.28 per barrel, according to official data.

ANKARA

Russia wants to take part in Iran's energy projects, said Russia's energy minister in a briefing with reporters that was made public Friday morning.

The lifting of sanctions may lead worldwide oil production to increase by 2.5 million barrel per day, Novak said, adding he did not expect a decrease in oil prices.

Brent crude oil prices fell 2.6 percent on Tuesday as Iran and the P5+1 group reached a final nuclear deal that will see the removal of sanctions against Tehran.

The price of the global benchmark Tuesday decreased to as low as $56.76 per barrel, after it opened at $58.28 per barrel, according to official data.