BAKU, Azerbaijan, September 13. Iran’s crude oil supply rose by 40,000 kb/d in August, reaching 3.42 mb/d, says the latest outlook from the International Energy Agency (IEA), Trend reports.
This represents an increase of 280 kb/d compared to the same period last year. Oil exports, primarily to China, remained robust, holding steady at approximately 1.7 mb/d, up by 400 kb/d from last year's average.
Newly appointed Oil Minister Mohsen Paknejad has reaffirmed the country's commitment to expanding crude oil output. Paknejad, who previously served as deputy for hydrocarbon resources at the oil ministry and as deputy managing director for production at the National Iranian Oil Company, aims to increase production by an additional 400 kb/d within the next two years.
Looking ahead, the IEA projects Iran's crude oil supply to average 3.35 mb/d in 2024, with a slight increase to 3.37 mb/d in 2025.