Minister: Iran producing 3,850,000 b/d of oil

Talking in a TV program here in southwest of the country Monday night, he said the production rate dropped to about one million barrels per day for a while due sanctions, according to IRNA.

But now, he added, Iran is exporting about 2,500,000 of crude oil and condensates and is producing 2,100,000 barrels of crude oil on a daily basis.

However, the minister said, the country still needed time to regain its due position as the OPEC’s second largest producer.

Noting that Iran is conducting good investment projects with Iraq in oil and gas fields, Zangeneh stressed the need for making basic investments in the Iranian oil industry.