Tag Archives: OPEC

MNA Business Desk: Iran expected that its oil production capacity will hit four million barrels a day by March as it was exempted from an unofficial agreement among OPEC members to lower output to boost prices. “Our production capacity was 3.8 million (bpd) after the first half of the year. We will take it to 4.03 million by the end of the year” in March 2017, Oil Minister Bijan Namdar Zanganeh said at a conference. He added that Iran was aiming to hit 4.6 million bpd within five years. That is up from 2.7 million bpd in January, when a ...

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