Free Trial

Iranian Oil Production at 3.4mn bpd: Owji

OIL

Iran’s oil production is at 3.4mn bpd according to its oil minister Javad Owji.

  • “Given the ministry’s plans and investments in onshore and offshore fields, domestic oil output will hopefully increase,” Owji added.
  • Production in Iran has increased in recent months by about 100,000 bpd.
  • Owji said in October that Iran was increasing production and “we have customers for it in the world”.
  • He also said last month that the US had not given Iran a “green light” to increase production despite sanctions officially remaining in place.
  • Kpler figures showed that China has pulled in Iranian crude at record levels in October at >1.8mn bpd, a lot of which came out of floating storage.
  • Oil markets have been on edge that Iranian flows may face further scrutiny because of its links to Hamas and Hezbollah as the conflict with Israel escalates.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.