Iran’s oil output is currently close to 3.

9mb/d, according to Oil Minister, Bijan Zanganeh, Hellenic Shipping News informed.

Speaking on the sidelines of a government cabinet late January, Zanganeh indicated that Iran was closing in on its target of restoring output to the level of 4mb/d the country produced before the 2012 imposition of international nuclear sanctions, which specifically targeted Iran’s petroleum and financial sectors, Platts reported.

The country was exempted from OPEC’s decision in November 2016 to cut output by about 1.2mb/d, yet, it is currently exceeding its deemed OPEC production ceiling of just under 3.8mb/d.