The Logo of the OPEC is seen at the organization's headquarter on the eve of the 164th OPEC meeting in Vienna, Austria on December 3, 2013. AFP PHOTO/ALEXANDER KLEIN
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Iran's plan to keep boosting crude production until it regains its OPEC market share is dimming prospects of collective action by major producers to freeze output, according to Patrick Allman-Ward, chief executive officer of Dana Gas PJSC.While the country supports action to stabilize the market, it won't participate in a freeze in output before regaining its presanctions share of OPEC production, state-run news service Shana reported Friday, citing Oil Minister Bijan Zanganeh.A freeze would be the group's first decision to limit output since OPEC adopted a Saudi-led plan in 2014 allowing members to pump more to protect market share. Ghamsari said at the time that Iran was exporting about 2 million barrels of its daily output of 3.8 million.The kingdom boosted July output to a record 10.67 million barrels a day, according to OPEC.
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