Iran Aims to Boost Oil Output, Complicating OPEC+ and US Efforts
- Crude production up by 50% in two years, rising: Oil minister
- Iran in August to see highest monthly exports this year
This article is for subscribers only.
Iran plans to keep raising oil production as back-door diplomatic efforts with the US appear to be easing pressure on the Middle Eastern nation.
The Islamic republic expects to boost production to 3.4 million barrels a day by the end of summer, according to Oil Minister Javad Owji. That would put output near Iran’s capacity limit of 3.8 million barrels a day. The country has already boosted production by about 50% over the past two years, according to comments Owji made toIranian parliament’s energy committee reported by the ministry’s news service Shana.