Iran plans oil output boost to 4m barrels/day

Iran’s has greenlit a strategy aimed at boosting its daily oil production to 4 million barrels per day (bpd), although no specific timeline was provided, Reuters reported on Sunday citing Tasnim news agency.

According to Tasnim, an economic council overseen by Iran’s interim president, Mohammad Mokhber has given the nod to a plan to elevate the nation’s oil output from 3.6 million bpd to the targeted 4 million bpd.

As a significant player in the Organization of the Petroleum Exporting Countries (OPEC+), Iran’s decision holds potential implications for global oil markets.