Iran will boost crude oil exports after the lifting of sanctions by western powers over the weekend.

Iran's deputy petroleum minister Amir-Hossein Zamaninia said: "Iran is ready to add 500,000 barrels [per day] to its crude oil exports in lieu of the current oil market conditions."

He added that state tanker company NITC had been a successful company during the sanctions and said: "Today is a historic day for the country for which many efforts have been made over the course of the past years."

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