TEHRAN (Mehr News Agency) – The ‘Iran’s oil-independent economy’ phrase is old as the inception of the oil industry in the country.

Although it was a major economic spur during its formative years, with Abadan oil refinery as the main supplier, the industry grew to the extent that it now influences, and even directs, all ups and downs of Iran’s economy.

Like several other petroleum exporting countries, the gross domestic production (GDP) figures in Iran manifest a strong relation between oil turnout status and fluctuations in any other section of the economy. It remains indubitable that the country’s energy needs are almost entirely supplied by the oil production industry (98 percent). This happens while the world witnessed an 87 percent growth in oil exports and also notwithstanding a 6.1 percent decline in the world’s consumption records.

Although the global demand for oil products is supposed to move in a straight, constant line in the oncoming years, it is generally believed that the major part of the world’s oil importing side would still expect traditional oil producers such as Iran to increase their production capacity. However, the Iranian state-run oil industry has always been subject to the following phenomena: - Solid bureaucracy - Domestic market underestimation - Disregarding the necessity of young workforce training - Lack of scientific researches - Suspecting competent foreign experts due to some undesirable experiences in the past - Strong domestic and non-domestic tendency to politicize oil industry affairs - Applying old traditional rules in the industry- this has so far delayed some national and international deals

Despite the fact that the industry has suffered many intentional and unintentional obstacles, its notable capabilities should not be in any case disregarded.

With high scientific, industrial, and financial qualities, strategic geographical position as well as high-end, low-end and marginal industries accessibility, Iran’s oil production assiduity seems to be of real vigor for the country’s sluggish economy.

Currently, Iran is capable of bringing about 4.2 million bpd. It can therefore be supposed obtainable to reach an 8-million-bpd capacity by 2020. Iran should not worry about the consequences of increasing its oil production capacity because:

- Realizing Iran’s determination, those oil traders who intend to add up their shares of the world’s oil exchange through spoiling the markets would soon be discouraged.

-Whenever other major oil producers decide to decrease their production, Iran would stand first to supply the market. This might be the same if oil demands exceed the forecasts.

No financial losses may occur. The industry will regain all the spent money while producing additional profits as soon as oil demands release.

So, in many respects, OPEC should review its major policies when studying the latest events. This is the truth that Iran is a main index in the world oil market. The organization must consider the fact that it can not suppress the members’ capabilities to reap its own benefits. Otherwise, it has to await a severe downfall like some other international organizations did.