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Tuesday, 7 March 2017

Iran's Crude-Oil Exports Increase to Level Last Seen in 1970s - Bloomberg

Iran's Crude-Oil Exports Increase to Level Last Seen in 1970s - Bloomberg:

"Iran’s crude-oil exports touched 3 million barrels a day for the first time since the 1979 Islamic Revolution. That level, lasting just one day, was reached in the current Iranian month that began Feb. 19, Oil Minister Bijan Namdar Zanganeh said, according to state news agency IRNA. The Islamic Republic’s exports tumbled in 2011 as international sanctions targeted its oil industry, cutting production. Since restrictions ended in January 2016, Iran has recovered quickly, raising output near pre-sanctions levels of about 4 million barrels a day. It’s targeting 5 million a day by 2021 with the help of foreign investors, though none has yet signed a definitive contract."



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