Iran Plots Oil Output Hike as It Sees Nuclear Talks Progress
- Negotiations show ‘great progress’ but more work remains
- Iran’s oil company lays out plans to ramp-up oil production
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Iran said it’s preparing to hike oil production even as talks with world powers over how to lift sanctions curbing the nation’s crude exports have so far failed to clinch an agreement.
Parties to the 2015 nuclear deal, led by the European Union, are attempting to fully restore the landmark accord that all but collapsed after then-President Donald Trump withdrew three years ago. The negotiations in Vienna aim to ease U.S. sanctions on the Islamic Republic’s economy and scale back a significant expansion of its atomic activities.