Iran beats 3.8M output; eyes 4M

Iran’s crude oil production has surpassed 3.8 million barrels per day, Oil Minister Bijan Zanganeh was quoted as saying on Saturday, adding that Tehran expects output to reach four million bpd by March 2018.

“Oil production has exceeded 3.8 million barrels. The country’s oil output will reach four million barrels by the end of the year,” Zanganeh told Fars news agency, referring to the Iranian year which ends on March 20.

In mid-June, Zanganeh said output had reached 3.8 million bpd. —