Iran must ignore the lower price of crude oil and work to increase the rate of production to ensure its share of the market, the country’s oil minister said. Iran, since reaching a multilateral nuclear agreement that could bring sanctions relief, has hosted representatives from companies like Italy’s ENI and Royal Dutch Shell. Iran’s crude oil production in July was around 3.1 million barrels per day, an increase of six tenths of a percent from the previous month and about 13 percent less than the peak rate in the pre-sanctions era. Iranian Oil Minister Bijan Zangeneh said his country could become the second largest producer in the Organization of Petroleum Exporting Countries, after Saudi Arabia, within seven or eight months of sanctions […]