Iran plans to raise its oil production

30 April 2011 | 14:13 Code : 12303 Latest Headlines

Arab News-- Iran plans to raise its oil production by 115,000 bpd until March, its deputy oil minister was quoted by the semi-official Mehr news agency.

“Iran will increase its oil output by 115,000 bpd by the end of the current Iranian year (which ends on March 19),” said Ahmad Ghalebani, deputy oil minister.

Iran is pumping more than four million barrels of crude bpd, according to Iranian authorities.

Iranian oil output in January was 3.64 million bpd, according to Reuters’ monthly survey of OPEC producers, down from 3.67 million bpd in December and compared with an implied OPEC target 3.34 million bpd.