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Iran sees oil output rising to 4 mln bpd by year end

Iran sees oil output rising to 4 mln bpd by year end

ISTANBUL: Iran’s oil output will rise to around 4 million barrels per day by the end of the year, an Iranian oil official said on Wednesday as the OPEC member tries to ramp up production after years of international sanctions. “By the end of 2017 we hope to reach about 4 million barrels per a day,” Amir Hossein Zamaninia, Iran’s deputy oil minister for trade and international affairs, told reporters in Istanbul. Iran has been producing around 3.8 million barrels per day in recent months.