According to Iran's oil minister, the country's oil output has achieved a level of 3.4 million barrels per day. Despite facing US sanctions, Iran, an OPEC member, has boosted its production and exports in the past few months. The bank stated that a decrease in Iranian crude exports by approximately 300,000 to 500,000 barrels per day could exacerbate an already tight market, possibly pushing Brent prices up to a range of $100 to $110 per barrel.

Iran’s oil production reaches 3.4 million bpd, oil minister says

Posted On: December 8, 2023

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According to Iran’s oil minister, the country’s oil output has achieved a level of 3.4 million barrels per day. Despite facing US sanctions, Iran, an OPEC member, has boosted its production and exports in the past few months. The bank stated that a decrease in Iranian crude exports by approximately 300,000 to 500,000 barrels per day could exacerbate an already tight market, possibly pushing Brent prices up to a range of $100 to $110 per barrel.

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Iran’s oil production reaches 3.4 million bpd, oil minister says

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