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Iran’s oil output reaches 3.4 million bpd: oil ministry spox

Oct 30, 2023, 12:42 PM
News ID: 806051
Iran’s oil output reaches 3.4 million bpd: oil ministry spox

Iran’s oil production has increased to 3.4 million barrels per day (bpd), the spokesperson for the Iranian Oil, Gas and Petrochemical Products Exporters’ Union said.

Speaking in an interview with IRNA on Sunday, Seyyed Hamid Hosseini said measures have been taken in the current administration to boost oil exports to world markets.

He noted that oil exports have considerably increased in the administration of President Ebrahim Raeisi who came to office in August 2021.

If, according to the 7th Five-Year Socioeconomic and Cultural Development Plan, the country wants to increase oil output from 3.8 million bpd to 4.2 million bpd, $25 is needed to be invested on average for each oil barrel, he said, adding that measures have been taken for the country to increase the oil production to about 3.8 million bpd.

Elsewhere in his remarks, Hosseini pointed to the oil production from the “Sepehr” and “Jofeir” oilfields in the country and added that about 40,000 barrels of oil have been added to the current production capacity by extracting oil from the two fields.

It is hoped that the country’s economic growth will increase with the rise in oil production, he added. / MEHR

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