Iran to raise oil production capacity by 200,000 bpd by early 2023
Tehran, IRNA – The CEO of the National Iranian Oil Company (NIOC) and deputy oil minister of Iran said that Iran’s oil production capacity will increase by 200,000 barrels per day by the end of the current Iranian year, which began on March 21, and reach 4.038 BPD by late March 2023. Mohsen Khojastehmehr told IRNA that by the end of the current Iranian calendar year (beginning on March 21), Iran’s oil production capacity will exceed 4 million BPD. He added that the production capacity of the oil is now 3 million and 838 thousand BPD.Khojastehmehr also said that Iran is ready to significantly increase exports and return to global markets with maximum power. NN: This is what is driving the Biden’s administration obsession to do a very bad “new” nuclear deal with Iran. The democrats know people are really upset by skyrocketing energy costs and its not just gasoline. Its the whole energy complex including electricity.
DO not forget the kings of the oil markets the Saudi’s and Russia will not tolerate lower oil prices…. OPEC will cut production to offset any and all Iranian barrels coming to market.