11/21/2023, 9:55 AM (Source: TeleTrader)
more TeleTrader news

Iran wants oil production at 4 million bpd in 2024

Tehran is planning to boost its oil output to 4 million barrels per day in the following year, Tasnim news agency quoted Iranian Oil Minister Javad Owji (pictured) as saying on Tuesday.

Owji also added that he sees the country's crude production reaching 3.6 million barrels per day by March 2024, which is roughly some 200,000 barrels more than the current manufacturing level.

In the past few days, the prices of oil futures have been on an upward trajectory as the uncertainty over the supply of crude continued to weigh on investors, while they eagerly awaited the OPEC+ meeting scheduled for November 26.

Baha Breaking News (BBN) / AY