NIOC Crude Production Up 37%

The National Iranian Oil Company’s crude production has experienced a 37% increase in the first five months of the current fiscal year (March 21-Aug. 20) compared with the corresponding period of the previous year.
Based on OPEC's secondary sources data, NIOC’s production was barely 1.9 million barrels per day in 2020 between March and August; the figure has now reached 2.5 million bpd, IRNA reported.
Iran’s oil output stood at 3.9 million bpd, 3.5 million bpd, 2.4 million bpd and 2 million bpd in 2017, 2018, 2019 and 2020 respectively.
The country’s oil production capacity almost halved to 2 million barrels per day since former US president, Donald Trump, withdrew from the Iran nuclear deal in 2018 and announced tough new sanctions that attempted to create an economic siege.