Iran boosted oil exports by 30 percent last month, Oil Minister Bijan Zangeneh says, after Tehran dismisses an output freeze despite historic low prices.
Zangeneh tells the Shana news agency that exports increased to 1.75 million barrels per day during the Iranian month of Bahman, which runs from January 21 to February 19.
“This represents an increase of 400,000 barrels per day compared to the same period last year,” he says.
The production also included gas condensates.
Iran, which has the world’s second largest crude reserves, currently produces about 2.8 million bpd, but output during Bahman rose off the additional exports to 3.2 million bpd.
Tehran has come under pressure from OPEC members Saudi Arabia, Venezuela and Qatar as well as Russia to follow their lead by freezing output at January levels as crude prices plumbed 13-year lows.
Zanganeh said after the nuclear deal with world powers that Tehran would “support any measure that can stabilise the market and increase prices” but stopped short of committing Iran to any curbs.
— AFP
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