Iran is preparing for a jump in oil production

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Iran has said it is ready to increase its oil production to the pre-US sanctions level of more than 4 million barrels per day.
The CEO of the National Iranian Southern Oil Company, Ahmad Mohammadi, said that Iran is ready to increase oil production to about 95 percent of the level it was before the US sanctions, in light of Iranian optimism about Joe Biden’s inauguration of the US presidency on January 20.
The Iranian News Agency (IRNA) quoted him as saying that drilling wells, developing facilities and laying pipelines are being carried out to achieve this goal.
Iranian Oil Minister Bijan Zanganeh announced that Iran plans to double oil production to about 4.5 million barrels per day, as the country expects to ease US sanctions after US President-elect Joe Biden takes office.
In 2018, the United States unilaterally withdrew from the nuclear deal, which was designed to prevent Tehran from obtaining a nuclear arsenal in exchange for providing it with economic benefits.
Since the imposition of the US sanctions, and despite the lack of official announcement of the volume of Iranian oil exports, Iran had announced last November that it would export about 700,000 barrels per day, but it denied that.
The administration of outgoing US President Donald Trump exercised utmost pressure on Iran to force it to negotiate a broader agreement that goes beyond its nuclear program, but this did not happen.
Despite the US sanctions on Iran, it continued to export oil, albeit in smaller quantities, circumventing the sanctions more evasive by closing the tracking devices for ships that were transporting oil, and in many cases it publicly announced the volume of oil exports, as was the case last November. .
And in early December, Iranian President Hassan Rouhani said that the administration of outgoing US President Donald Trump had not succeeded in zeroing in the country’s oil exports.
“Although the United States has placed many obstacles to our exports of oil and petrochemicals, Trump’s dream of zeroing in Iran’s oil exports has never materialized,” he said. He indicated that his country is able to rapidly increase oil production, if sanctions are lifted.
At the time, he stressed “the necessity of preparing to restore oil production levels to natural production capacity, in order to export oil,” recalling that oil sales had reached two million barrels after the nuclear agreement entered into force and the sanctions that were imposed before it were removed.







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