Iran is gearing up to increase oil output to four million barrels per day (mmbbl/d), part of an approved plan of an economic council headed by Iran’s interim President Mohammad Mokhber, according to Reuters.

Iran’s total oil production has reached 3.25 mmbbl/d, increasing 50,000 barrels per day (bbl/d) in April 2024, compared to the previous month, according to International Energy Agency monthly report of global oil production.

This figure is the highest level of Iran’s crude oil production in the past five years following the US withdrawal from the internationally endorsed Iran nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), and the re-imposition of sanctions.

Iran’s oil production in 2018 stood at 3.6 mmbbl/d.