Skip to content
Subscriber Only

Iran Can Boost Output Fast If OPEC Ends Cuts, Oil Minister Says

  • Country can add 100,000 barrels daily within a week: Zanaganeh
  • OPEC, allied suppliers to meet in June to assess crude market
Bijan Namdar Zanganeh

Bijan Namdar Zanganeh

Photographer: Akos Stiller/Bloomberg

Iran can swiftly increase production of crude if OPEC decides to scrap limits on global output when the group meets next in June, Oil Minister Bijan Namdar Zanganeh said.

The Persian Gulf nation can raise daily production by at least 100,000 barrels within “five or six days” if the Organization of Petroleum Exporting Countries decides that crude prices are high enough to justify abandoning its oil-cuts accord with other producers, he told reporters in Tehran.