Iran's daily oil output surpasses 3.5 million barrels

Iran's daily oil output had surpassed 3.5 million barrels, Rokneddin Javadi, Iranian deputy oil minister said, in his address to an oil industry meeting in Tehran, SHANA news agency reported today.

Javadi, who also headed the National Iranian Oil Company (NIOC), added that exports would reach 2 million barrels a day during April.

He added further that gas condensate exports in April would also see a 10-per cent growth.

Commenting on Iran's oil exports to European countries, Javadi added, that Iranian crude exports to the EU made up 30 to 35 per cent of the Islamic Republic's total oil exports.

The International Energy Agency reported on 14 April that Tehran raised the crude oil output by 400,000 barrels per day since the beginning of 2016, up to 3.3 mbpd.

In later 2015, Iran announced that it would add 0.5 mbpd of crude oil to the production level with the elimination of international sanctions on the country, and the same amount of crude oil would be added to the output level in the second half of 2016.

The sanctions were lifted in mid-January 2016 following implementation of the comprehensive nuclear deal between Tehran and the P5+1 group, which included the US, the UK, France, Russia, China and Germany