Iran aiming to increase oil exports to 1.4 million barrels per day, says minister

Iran is aiming to raise its oil and condensates exports to 1.4 million barrels per day said minister Javad Owji in televised remarks on Saturday.

Energy

1 min read

The New Arab Staff & Agencies

19 March, 2022

Instability in the global oil market due to Russia's invasion have led pundits to believe that Iran will play an important role in future exportation of the resource [source: Getty]

Iranian Oil Minister Javad Owji said in televised remarks on Saturday that he will try to raise Iran's oil and condensates exports to 1.4 million barrels per day as set out in an annual state budget.

"In parliament, lawmakers decided to raise the ceiling of exports of oil and condensates from 1.2 million barrels (per day) to 1.4 million barrels. The Oil Ministry will do everything in its power to realise the level set in the budget," Owji told state television.

Iran, facing US sanctions on its crude oil exports, does not divulge actual figures on its oil sales.