Iran’s daily oil exports to reach 2 million barrels in May
Baku, Azerbaijan, March 10
By Farhad Daneshvar - Trend:
Iran's First Vice President Eshaq Jahangiri has forecasted that the country's oil exports will reach two million barrels per day by late May.
Jahangiri said that as soon as sanctions against the Islamic Republic were lifted in January, the country's oil exports increased by 400,000 barrels per day reaching to 1.4 million barrels and the figure will increase to two million barrels per day by late May, IRNA news agency reported March 10.
He further expressed hope that Iranians will see better economic situation in the new Iranian year (starting March 21) compared to the current one.
Earlier, the CEO of the National Iranian Oil Company Roknoddin Javadi said Iran's oil exports have already reached 1.8 million barrels per day.
Javadi also voiced his organization's intention to increase the country's daily oil output to four million barrels per day in the next Iranian year.
Tehran's announcement to increase its oil production comes amid concerns over sharp decline in oil prices.
Iran says it will go on to boost exports as it had been forced to shrink its OPEC share from 2.3 million barrels per day to one million barrels per day under sanctions.
The sanctions were lifted in mid-January when Iran's nuclear deal with world powers was put into force.