Iran reveals plans on oil output in 2017

Iran reveals plans on oil output in 2017

Iran's oil output will rise to around 4 million barrels per day by the end of the year, Iran's deputy oil minister for trade and international affairs Amir Hossein Zamaninia said on Wednesday as the OPEC member tries to ramp up production after years of international sanctions.

"By the end of 2017 we hope to reach about 4 million barrels per a day," Reuters cited Zamaninia as saying.

"Iran's oil production has reached 3.901 million barrels per day," the country's government spokesman Mohammad Baqer Nobakht said earlier, referring to monthly statistics for May 22-June 21.