Baku, Azerbaijan, Aug. 9
By Dalga Khatinoglu – Trend:
Iran rapidly increased oil production after sanctions, even surpassing expectations, Iranian Deputy Oil Minister Amir Hossein Zamaninia told Trend Aug 9.
Taking into account the predictions of international organizations on the oil production in the post-sanctions era, statistics show that Iran has increased its output sooner than expected.
Zamaninia said that Iran surprised the world with its rapid growth in oil production.
“We doubled exports to 2 million barrels a day. Iran’s oil output is currently 3.7 mb/d and will reach the pre-sanction level by the next six months,” he added.
Under the sanctions, Iran produced 2.8 mb/d of oil.
Zamaninia did not reveal Iran’s oil output by the next six months, but said Iran has a specific share in OPEC and will produce at that amount.
Based on Zamaninia’s comments and the current OPEC daily production of 33.4 mb/d, Iran will be probably ready to produce 4 mb/d of oil.
The market has room for the rise in Iran’s oil production.