Iran Sets Out Ambitions to Hike Oil Production Next Year
- The Islamic Republic aims to pump 4.5 million barrels daily
- Nation expects easing of U.S. sanctions after Biden’s sworn in
Workers work on an offshore oil platform in the Persian Gulf.
Photographer: Ali Mohammadi/BloombergThis article is for subscribers only.
Iran said it planned to roughly double oil production in the next year, as the country anticipates a loosening of U.S. sanctions after Joe Biden becomes president.
Oil Minister Bijan Namdar Zanganeh told lawmakers on Saturday the government aims to pump 4.5 million barrels a day of oil and gas condensate, which is a liquid form of natural gas, during the next Iranian calendar year beginning on March 21, the state-run Islamic Republic News Agency reported.