07:43 GMT27 February 2020
Listen Live
    Get short URL

    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.

    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.


    Oil Output Consensus Depends on OPEC's Ability to Agree With Iran - UAE Official
    Iran, Saudi Arabia More Flexible in Readiness to Reach Deal Regarding Oil Output
    Saudi Arabia May Reduce Oil Production if Iran Freezes Output - Source
    oil output, Ali Kardor, Iran
    Community standardsDiscussion
    Comment via SputnikComment via Facebook