Iranian Minister Bizhan Zangan said that Tehran can sharply increase oil production up to 6.5 million barrels per day. This is twice as bigger than the current indicator, writes Bloomberg.
Increasing the extraction of raw materials “will increase the security and political power of the country,” he noted. It is necessary to increase production as soon as possible, added Zangan. Currently, Iran miners about 2.5 million barrels of oil.
The minister believes that the country will be easy to find buyers on the barrels that she gathered to add to the market. Iran has already increased exports this year. The main buyer was China, and Indian oil refineries stated that they would import Iranian oil after removing sanctions.
Earlier, the US Mainnergo reported on the last six months of the import of Iranian oil imports, before that, since 1991, such deliveries were not conducted. In March, import volume amounted to 1.03 million barrels.
Goldman Sachs in May predicted the rise of the price of Brent oil to 80 dollars per barrel in the fourth quarter of this year. Possible removal of sanctions from Iran is not significantly on quotes, analysts note.
US imposed repeated sanctions against Iran at the end of 2018, a few months after the country came out of the agreement in the framework of the Iranian six, in which Russia, China, United Kingdom, France and Germany also took part.
The Tehran act, in particular, the prohibition of oil exports and the operations with the US public debt. Nevertheless, Iran remains the fourth in terms of mining member of the organization of oil exporters (OPEC).