President: Iran Ready for Rapid Jump in Oil Output
TEHRAN (Tasnim) – Iran is prepared to immediately raise the oil production to the normal export levels, President Hassan Rouhani said.
Addressing a meeting of the Administration’s Economic Coordination Headquarters, Rouhani highlighted the oil industry’s readiness for an immediate rise in production given Iran’s “operational instruments and valuable experiences”.
Referring to the suspension of sanctions under the 2015 nuclear deal, the president said Iran had once managed to increase the oil output to over 2 million barrels per day after the JCPOA came into force.
Although the economic war imposed by the US put many obstacles to the export of Iranian oil and petrochemical products, the US President, Donald Trump, failed to achieve his dream of bringing the Iranian oil exports down to zero, he added.
According to a decision made at the meeting, the Iranian Oil Ministry is obligated to take all necessary measures to prepare the oil industry’s resources and equipment for the production and sales proportional to the capacities available within the next three months.
The US has ratcheted up pressure on Iran since 2018 after withdrawing from the Joint Comprehensive Plan of Action (JCPOA). Since then, the Trump administration has made efforts to reduce Iran’s oil exports to zero.