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Iran sees oil output rising to 4 million bpd by year end
July 12, 2017 / 8:20 AM / 4 months ago

Iran sees oil output rising to 4 million bpd by year end

ISTANBUL (Reuters) - Iran’s oil output will rise to around 4 million barrels per day by the end of the year, an Iranian oil official said on Wednesday as the OPEC member tries to ramp up production after years of international sanctions.

FILE PHOTO: A man works for Iraqi Drilling Company at Rumaila oilfield in Basra, Iraq, May 11, 2017. REUTERS/Essam Al-Sudani/File Photo

“By the end of 2017 we hope to reach about 4 million barrels per a day,” Amir Hossein Zamaninia, Iran’s deputy oil minister for trade and international affairs, told reporters in Istanbul.

Iran has been producing around 3.8 million barrels per day in recent months.

Reporting by Olesya Astakhova; Editing by Susan Fenton

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