No plans for Iran over new oil output rise

Iran on Friday indicated that it has no immediate plans to launch a fresh rise in its oil exports from the current level of around 2.2 million barrels per day.

According to Press TV, Mohsen Qamsari, the director for international affairs of the National Iranian Oil Company (NIOC), told reporters that any new increase in Iran’s oil exports will depend on market conditions and its domestic capabilities.

Qamsari made the remark in response to a question on whether Iran is already planning to up its oil exports to as high as 2.5 million bpd.

Iran’s First Vice President Es'haq Jahangiri said in late March that the country’s oil exports had reached around 2.2 million bpd within two months after the removal of the sanctions on Iran.

Jahangiri said the figure marked a rise of at least 900,000 bpd in Iran’s oil production capacity.

On Wednesday, NIOC Managing Director Rokneddin Javadi told reporters that Iran’s oil output now stands at 3.7 million bpd, stressing that the country has already been able to return its oil production to pre-sanctions levels.

SS