BAKU, Azerbaijan, August 16. Iran's crude production is expected to amount to 2.9 mb/d in 2023, Trend reports.
According to the data obtained from the International Energy Agency (IEA), Iran's crude oil supply remained stable in July at 3.04 mb/d, hovering near a five-year peak.
To accommodate export increases of almost 500,000 b/d since the beginning of 2023 (surging from slightly over 1 mb/d), Iran has reportedly expanded operational capacity at the Kharg Island export terminal by 1 mb/d, the agency noted.
Looking ahead to 2024, the country's oil output is expected to increase slightly to 3 mb/d, the report added.
Prior to the former US administration's withdrawal from the Joint Comprehensive Plan of Action (JCPOA) nuclear deal in 2018, Iranian oil exports, including condensates, were surpassing 2 mb/d, the IEA pointed out. Discussions to revive the 2015 Iran nuclear deal, aimed at easing sanctions, have been on hold since September 2022.
