Iran Set to Increase Its Crude Oil Export

Source: 12/7/2020, Location: Asia

Iranian President Hassan Rouhani said the country was prepared to rapidly increase its crude oil production capacity to boost exports.

"Given the valuable operational tools and experience we have at our disposal, we are ready to increase oil production rapidly in order to reach full export capacity," he said.

According to, Dr. Hassan Rouhani said on Sunday, December 6 at the meeting of the Government Economic Coordination Headquarters: "According to the conditions of the [calendar year] 1400 budget, this budget contains clear, numerous and expressive messages, reflecting the state of the country's economy in the next year.”

Emphasizing the need to be ready to bring the country's oil production to its natural capacity for export, the President stated: “Due to the pre-JCPOA sanctions, oil production and sales faced restrictions, but with the implementation of the JCPOA and the lifting of sanctions, we were able to bring oil sales to over 2 million barrels per day in a short time, and given the valuable operational tools and experience we have at our disposal, there is still readiness today to increase oil production rapidly.”

Rouhani said that the US economic war had created several obstacles for the export of Iran’s oil and petrochemicals, but Trump's wish to reduce Iran's exports to zero was never fulfilled and “he will take that wish with him.”

According to the decision of the government's economic headquarters, the Ministry of Petroleum will take all necessary measures to prepare the resources and equipment of the oil industry for production and sales in proportion to the existing capacity within the next three months.

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