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Iranian Crude Production at 3.3mn bpd: Oil Minister

OIL

Iran’s oil production is currently over 3.3mn bpd according to Tasnim news reports citing Iranian oil minister Javad Owji.

  • “We are in the process of planning to increase oil production and we have customers for it in the world” he said.
  • He added that the US had not given Iran a “green light” to increase production denying prior media reports of that nature.
  • Oil prices remain elevated this week on fears rising Middle East tension could result in impacts towards Iranian oil infrastructure or more in-depth sanctioning of its shipments.
  • Numerous reports have circulated this week regarding whether Iran was involved in Hamas attacks on Israel at the weekend.
  • Iran is sending most of is crude to China.
Energy BulletsCommodities
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