15 Jul 2015
Can increase output ‘if there is demand’ – National Iran Oil Company
FXStreet (Mumbai) - The National Iran Oil Company on Wednesday stated that they have ordered an increase in production in oil fields and can reach an output capacity of 4 million barrels per day (bpd) ‘if there is demand’.
A nuclear deal between Iran and six world powers raises the possibility of a fresh oil glut further pressuring prices, however, it depends on how quickly Iran is able to increase its production and whether other OPEC members make room for fresh Iranian supply.
A nuclear deal between Iran and six world powers raises the possibility of a fresh oil glut further pressuring prices, however, it depends on how quickly Iran is able to increase its production and whether other OPEC members make room for fresh Iranian supply.