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Iran ready to raise oil exports to 2.5m bpd post sanctions
Iran’s First Vice-President Eshaq Jahangiri has said the country is able to increase its oil exports up to 2.5 million barrels per day (bpd) once the U.S. sanctions are lifted.
“Oil sales have dropped a lot, but now the situation is better, and we are in control. We will be able to increase oil exports to 2.5 million barrels per day after the removal of the sanctions,” Jahangiri said on Friday.
Iran has been ramping up its oil production over the past few months as talks for reviving the 2015 nuclear deal progress. Tehran has been negotiating its conditions for reviving the nuclear deal officially known as the Joint Comprehensive Plan of Action (JCPOA) with the world powers since early April.
Iranian crude oil exports in April have remained above the level of exports during the same period in 2020, Reuters reported, stating that this is an indication of recovery in Iran’s oil exports as talks for reviving the 2015 nuclear deal progress. According to Reuters, Iranian oil exports have risen since late 2020, despite U.S. .
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