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VisitIran 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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Markets
Yes • 50%
No • 50%
Trade data from Chinese customs or reports from international oil market analysts
Yes • 50%
No • 50%
Global oil price indices such as Brent or WTI
No • 50%
Yes • 50%
Reports from the Iranian oil ministry or international oil market data agencies
GDP growth rate increases by 1% or more • 25%
GDP growth rate decreases • 25%
GDP growth rate remains stable • 25%
GDP growth rate increases by less than 1% • 25%
Official GDP growth reports from Iranian government or international economic organizations
No clear decision • 25%
OPEC increases quotas • 25%
OPEC decreases quotas • 25%
OPEC maintains current quotas • 25%
OPEC meeting reports or official statements
India, Turkey, UAE • 25%
Other combination • 25%
China, India, South Korea • 25%
China, Japan, Turkey • 25%
Trade data from Iranian oil ministry or international trade reports