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Iran Approves Plan to Increase Oil Production by 250,000 BPD on November 4, 2024
Nov 4, 2024, 06:09 PM
Iran has officially approved a plan to increase its oil production by 250,000 barrels per day, according to reports from the Iranian oil ministry's news website, Shana. This decision is expected to enhance Iran's oil output significantly, which may have implications for global oil markets, particularly benefiting China, a major importer of Iranian crude. The announcement was made on November 4, 2024, and reflects Iran's ongoing efforts to boost its oil production capacity amidst various economic challenges.
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No change in quotas • 25%
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