Skip to main content

Iran announces 250,000 bpd increase in oil production

1 min

Iran has approved a plan to increase oil production by 250,000 barrels per day, the oil ministry's news website Shana reported on Monday.

Iran, a member of the Organization of the Petroleum Exporting Countries (OPEC), currently has production of around 3.2 million barrels per day © Mena Today 

Iran has approved a plan to increase oil production by 250,000 barrels per day, the oil ministry's news website Shana reported on Monday.

"Iran's Economic Council has approved a decision to finance an urgent oil production increase plan using resources from the National Development Fund of Iran," the Shana report said.

The country's first vice president Mohammad Reza Aref said the plan was crucial in supporting Iran's economy, given current conditions, it added.

Iran, a member of the Organization of the Petroleum Exporting Countries (OPEC), currently has production of around 3.2 million barrels per day, or 3% of global output.

Reporting by Hatem Maher

Related

Iran

No shame, no fear: Iran's leaders embrace ridicule

Syria's fate is the sole responsibility of the Syrian people and should be pursued without foreign imposition or intervention, Iran's foreign ministry said on Sunday, after Tehran's ally Bashar al-Assad was toppled by rebels.

Subscribe to our newsletter

Mena banner 4

To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.

  • Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.