TEHRAN: Iran’s oil exports have surpassed 2 million barrels per day following the lifting of sanctions under its nuclear deal with world powers, Oil Minister Bijan Zanganeh said on Sunday.
“Iran’s oil and gas condensate exports are now at more than 2 million barrels per day” after rising by 250,000 bpd since March 1, the ministry’s
Shana news service quoted Zanganeh as saying. Iran has doubled exports since its nuclear accord took effect on January 16.
Iran, an OPEC member, has the world’s fourth-largest oil reserves but its exports were long hampered by sanctions over its nuclear programme.
It has moved ahead with an increase in exports despite global concerns over a supply glut that has pushed oil prices to below $40 a barrel, from more than $100 a barrel in mid-2014.
