EghtesadOnline: In line with plans to raise crude output by developing shared reservoirs with Iraq, plans are underway to commence the second phase of West Karoun oil block development, the deputy head of the National Iranian Oil Company said.

EghtesadOnline: Iran sees the potential to raise its crude oil production capacity by more than 50% in the long run, while plans are in place to ramp up output to 4.5 million barrels per day in four days.

EghtesadOnline: Iran's crude oil production remained within the limits of an OPEC accord aimed at reducing output and easing a lingering global glut, OPEC said in its monthly report this week, citing independent sources.