Report: Iran Raised Oil Output by Nearly 0.4mn bpd

Date: 01 August 2025 - 23:18

News ID: ۱۴۲۰۶۷

TEHRAN - Iran has managed to significantly increase its oil production in a short period of time under an emergency plan introduced by the government and despite the pressures of the U.S. sanctions, according to a report published in the local media.
National Iranian Oil Company (NIOC) had raised its crude oil output by 0.247 million barrels per day (bpd) in the six months to late March.
The report said the increase in output had come after the Central Bank of Iran provided the NIOC with some $3 billion worth of new funds in August last year.
It said the NIOC then increased oil production by another 0.15 million bpd in the three months to late June, adding that the increase came mainly from oil fields shared with Iraq in the southwestern province of Khuzestan.
The report said the major increase in oil production has enabled Iran to boost its supply of feedstock to domestic refineries while raising its oil exports and beefing up its hard currency reserves.
A report published in early July by Bloomberg showed that Iran reached a record in oil production last year that had not been seen in the country since the late 1970s.
The report, which cited figures published last month by the UK Energy Institute and its Statistical Review of World Energy, said Iran had produced about 4.3 million barrels per day (bpd) of crude oil plus another 725,000 bpd of other liquids in 2024.
Latest data from international tanker tracking firms show oil exports from Iran have increased from historic lows of below 0.3 million bpd reported in 2019, when Washington toughened its sanctions on the country, to records of more than 1.8 million bpd in recent months.