Iran to raise crude output by 4 mln barrels in case of demands

EghtesadOnline: Director of National Iranian Oil Company (NIOC) for International Affairs Mohsen Qamsari said that the country would increase output production to 4 million barrels in case there are demands.

News ID: ۷۳۶۶۱۵

05 September 2016

“Depending on the market demands, Iran is ready to increase its oil output to 4 million barrels per day by the next 2-3 months,” he said.

“We can increase our crude output based on the market needs,” he noted.

According to ISNA, Qamsari said that Iran is now producing 3.800 million oil barrels daily, adding the company is likely to increase its output to 4.300 million barrels daily in the first three months of 2017 and to 5 million barrels daily by the next 2-3 years.