NISOC Ready to Double Crude Production Capacity Rapidly

The National Iranian South Oil Company is ready to double crude production capacity in the shortest possible time after the US sanctions are removed, the company's director of integrated planning said.
“The state-run firm is presently producing an average of 1.5 million barrels per day of crude oil, which can reach 3 million bpd in less than a week,” Majid Arsham was also quoted as saying by ISNA.
NISOC is capable of increasing production by 300,000 bpd as soon as sanctions are lifted, he added.
The potential return of Iranian barrels into global oil markets - both from the volumes in floating storage and over the longer term – will affect futures prices.