Iran plans to export 2.4 million barrels of oil per day

Iran is planning to export 2.4 million barrels of oil per day by March, according to the Ministry of Petroleum.

Iran will produce 4 million barrels per day by March 20, the vice petroleum minister said in an interview with news agency IRNA on Wednesday. The country produces slightly more than 3.8 million barrels per day at the moment.

Iran has previously said it plans to support all efforts to raise oil prices, after prices dropped more than 70 per cent since a peak in 2014.

However, amid a crisis over global overproduction of oil, the country has significantly raised its oil exports following the lifting of economic sanctions over its nuclear programme in July 2015.

Last update: Wed, 14/09/2016 - 13:50

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