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Iran Reaches 4Mln Barrel per Day Oil Output – National Oil Company

© REUTERS / Raheb Homavandi/FilesA gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, in this July 25, 2005 file photo
A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, in this July 25, 2005 file photo - Sputnik International
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Iran achieved 4 million barrels per day oil production less than a year after lifting nuclear sanctions, Managing Director of National Iranian Oil Company (NIOC) Ali Kardor said on Monday.

General view of part of the Tehran's oil refinery south of the capital Tehran, Iran - Sputnik International
Iran to Consider Oil Production Freeze at 4Mln Barrels Per Day
MOSCOW (Sputnik) – Addressing the Petroleum Ministry officials, Kardor said that Iran was able to maintain its 14 percent quota in the Organization of the Petroleum Exporting Countries (OPEC), according to the IRNA news agency.

The official also announced further increase of oil production.

"Our oil production capacity should reach 5.2 or 5.7 million bpd," Kardor said.

Iran has been re-entering the global oil market after in January the European Union, the United Nations, and partially the United States lifted their sanctions against the Islamic Republic after the International Atomic Energy Agency (IAEA) verified Tehran’s compliance with a nuclear agreement reached in July 2015.

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