Iran’s Oil Output Gets Back to Pre-Sanctions Level: IEA
TEHRAN (Tasnim) – The International Energy Agency announced that Iran’s oil production has returned to the level of pre-sanctions era.
According to the IEA charts, Iran’s oil output reached 3.56 million barrels a day in April, the highest since November 2011, Bloomberg reported.
Data also show that Iran’s crude exports have increased to 2 million barrels a day, close to the level before a host of Western sanctions caused Iran’s crude production to drop dramatically.
The IEA also cited China as the biggest buyer of Iranian crude last month, taking more than 800,000 barrels a day.
Last week, Iranian President Hassan Rouhani said the country’s exports of oil will be soon equal to the level of pre-sanctions era.
The achievement of the Joint Comprehensive Plan of Action (JCPOA), a lasting nuclear deal between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany), has terminated nuclear-related sanctions on Iran, helping the country move to regain its share in the international oil market.
The agreement has taken effect on January 16.
Before the sanctions were lifted, Iran said it had made the necessary preparations to boost its oil production capacity to pre-sanctions levels.
