Iran Sees Oil Output Reaching 4 mln bpd by Mid-April

Feb 18 Iran expects its oil production to reach 4 million barrels per day by mid-April. a month later than planned. the head of the state-run National Iranian Oil Company (NIOC) was quoted as saying on Saturday.
Iran said in January its daily output was close to 3.9 million barrels.
We were due to reach 4 million barrels …by the end of the (Iranian) year (March 20). This will be realised with a one-month delay. said NIOC’s Ali Kardor. quoted by the Iranian Students` News Agency (ISNA).
Kardor said that Iran had been trying to reach 4.7 million bpd for the past seven to eight years without success.
Of course. Iran’s crude oil production reached 4.2 million barrels at a certain stage. but later fell. he added. without giving further details.
Under a deal agreed to cut production by the Organization of the Petroleum Producing Countries in December. Iran was allowed to boost output slightly from its October level. Tehran has long argued it needs to regain market share lost under Western sanctions. (Reporting by Dubai newsroom. editing by Sami Aboudi and John Stonestreet)
 
 

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