Dubai March 3 2022: Iranian oil production capacity can reach its maximum less than two months after a nuclear deal is reached, Oil Minister Javad Owji was quoted as saying on Thursday.
Iran sits on the world’s fourth-largest oil reserves but its crude output has dropped since the imposition of U.S. sanctions on its economy in 2018, when then-U.S. President Donald Trump exited a 2015 nuclear deal.
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“As soon as nuclear negotiations in Vienna are concluded, we can reach our maximum oil production capacity in less than one or two months,” Owji was quoted as saying by the official oil ministry news agency SHANA on Telegram. “However, we are in no way tied to waiting for the nuclear talks.”
Negotiations to revive the pact have been going on for 10 months in Vienna, and diplomats are now believed to be in the final stage of talks.
Iran pumped 2.4 million barrels per day on average in 2021, and plans to increase output to 3.8 million barrels per day if sanctions are lifted.
