Iran now produces more oil than before sanctions


According to Bloomberg referring to the news channel Al Arabia, Iran increased oil production to 3.8 million barrels per day (b/d).

Al Arabia, in turn, refers to a source in the state-owned National Iranian Oil Co. (NIOC).

According to the International Energy Agency (IEA), before sanctions Iran was producing 3.5–3.7 million b/d.

Last month, the managing director of NIOC Rokdoddin Javadi said that oil production in Iran will reach the same level as it was before sanctions in June this year.

Iranian authorities intend to increase oil production to 4 million b/d by the end of the local year ending in March.

As a result of sanctions, Iran cut oil exports to about 1 million b/d.

Source: Interfax