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Page added on July 4, 2021

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Iran Says It Can Quickly Hike Oil Output If Sanctions Are Lifted

Production

Iran’s Oil Minister Bijan Namdar Zanganeh said his country has taken “many measures” to ensure it can raise crude production in “a very short time” if U.S. sanctions are lifted, the state-run Shana news agency reported.

World powers have worked for months trying to broker an agreement between Iran and the U.S. that would restore Washington’s membership of the 2015 nuclear accord abandoned by former President Donald Trump in 2018. A revived deal would ease sanctions, triggering the return of Iranian barrels to the market. No date has been set for what would be a seventh round of talks.

Despite the “extraordinary challenges” faced by the Iranian economy, the country can “easily” increase crude production to 6 million barrels a day, Zanganeh said, without detailing the preparations it has made or giving a precise time-frame. Iran’s daily production hasn’t been at 6 million since the 1970s and is currently about 2.5 million barrels.

Zanganeh’s comments come after a breakdown in oil-supply talks between the Organization of Petroleum Exporting Countries and its allies last week, with demands from the United Arab Emirates blocking a deal. Negotiations are due to resume on Monday.

bloomberg



One Comment on "Iran Says It Can Quickly Hike Oil Output If Sanctions Are Lifted"

  1. Theedrich on Thu, 8th Jul 2021 5:54 pm 

    Biden’s ONLY benefit: the Afghan withdrawal. It shows the slow disintegration of Yankeeland.  Now that the country has lost over $2 trillion devoted to bribery, extortion and the greed-driven enrichment of American military toymakers, reality is finally forcing a change.  After over 2,000 American deaths, the genosuicidism of White America is beginning to take noticeable effect.  Turning a civil-war-riven, tribal society into a replica of American pseudo-democracy cannot happen.

    The Taliban and Isis will decide the fate of Afghanistan through religious war.  The 300,000 strong Afghan make-believe army will melt away into the woodwork, since American money will no longer be supporting its members.  Mohammedanism will reign supreme, because the one and only way to deal with religious fanaticism is the way China has shown in dealing with its Weegurs.

    Thus the absurdity called the United States will be shown for what it is:  a system designed to terminate biological evolution and defeat nature.  Its justification for mass murder — that it will make lions lie down with lambs by threatening the former with death (“all anthropoids are created equal”) — is coming home to roost.

    Yes, Virginia, there really is a Santa Claus.

    Only, his real name is The Grim Reaper.

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