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Iran Has No Plan to Increase Oil Production in Next 12 Months

No Plan to Increase Oil Production in Next 12 MonthsNo Plan to Increase Oil Production in Next 12 Months

Iran does not intend to increase crude output in the next fiscal year that starts on March 21, the National Iranian Oil Company’s managing director said on late Friday.
“The country’s oil production will not rise in the year to come and it will be fixed at the current rate,” Ali Kardor was also quoted as saying by ISNA.
On the current volume of oil output, Kardor noted that while Iran’s daily production capacity stands at nearly 4 million barrels, the actual output stands at around 3.9 million bpd.
According to Kardor, the oil-rich country’s crude export is at a daily average of 1.7 million barrels, excluding condensates, a type of ultra-light crude. 

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