Iran hopes to raise oil production by 1 mbpd within 5 years

Comments from oil minister Zanganeh
– Sees re-election of Rouhani spurring oil investment in Iran
– Re-election signal is clear, Iran wants to interact with the world
If Iran, Libya and Nigeria get their acts in order. And if shale technology continues to improve and expand, I don’t see anywhere for oil to go but down in the long term.