Iran's Oil Production Soars to 3.4 Million Barrels Per Day, Fueling Economic Growth

According to the spokesperson for the Iranian Oil, Gas, and Petrochemical Products Exporters’ Union, Iran has seen an increase in oil production, reaching a daily output of 3.4 million barrels.

Iran (IMNA) - In an interview with IRNA, Seyyed Hamid Hosseini highlighted the efforts made by the current administration to enhance oil exports to global markets. He emphasized that under President Ebrahim Raeisi's leadership, oil exports have significantly risen since his inauguration in August 2021.

Hosseini mentioned that to achieve the goal of increasing oil output from 3.8 million barrels per day to 4.2 million barrels per day, as outlined in the 7th Five-Year Socioeconomic and Cultural Development Plan, an average investment of $25 per barrel is required. He also stated that measures have been implemented to raise oil production to approximately 3.8 million barrels per day.

Furthermore, Hosseini discussed the contribution of the "Sepehr" and "Jofeir" oilfields to the country's production capacity. Extraction from these fields has added around 40,000 barrels of oil per day to the current output.

Hosseini expressed optimism that the increase in oil production will lead to economic growth for the country.

News ID 700017


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