Iran: Crude oil production at 3.2 million barrels a day by 2021

Iran: Crude oil production at 3.2 million barrels a day by 2021

Editorial Staff
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Following the expectations for production, Oil Minister Zanganeh, speaking at a press conference, said that the increase in oil exports is a "top priority for the administration of President Rohani"

Iran is planning to increase crude oil production to 3.2 million barrels a day by 2021. Speaking at a press conference, Iranian Oil Minister Bijan Namdar Zanganeh also requested $200 billion in investments to develop the oil industry. “Crude oil production capacity will reach 3.2 million barrels a day by the end of the sixth 5-year development plan (2021)”, said the minister, according to whom crude oil exports will increase following the increase in production. “Increasing oil exports is a top priority for the President Hassan Rohani administration”, added Zanganeh. The plan puts Iran on track to reach the pre-sanctions levels of oil production of 3.6 million barrels.