Iran Expects to Increase Output by 500,000 BOPD

Iranian Oil Minister, Bijan Zanganeh said that Iran expects to raise the oil output by 5000,000 bopd as soon as the sanctions are lifted, and to increase to one million bopd in a few months. Zanganeh said,
"Within the next few months, we will return to the level of 3.8-3.9 million barrels", previous production levels. International sanctions were imposed to force Iran to curb its nuclear program causing oil exports to drop to just over 1 million bpd since 2012.