Iran Prepares To Ramp Up Oil Production To 4 Million Bpd

Iran plans to boost its crude oil production to 4 million barrels per day (bpd) in the new Persian year that started this week, Mohsen Khojasteh Mehr, chief executive of the National Iranian Oil Company (NIOC), said on Thursday, Iran’s Fars News Agency reported. Iranian oil production has slumped since former U.S. President Donald Trump withdrew from the so-called Iranian nuclear deal and imposed sanctions on the Islamic Republic’s oil exports. In February, Iran’s crude oil production was at 2.546 million bpd, up by 44,000 bpd…