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Iran Aims to Boost Oil Output, Complicating OPEC+ and US Efforts
Iran plans to keep raising oil production as back-door diplomatic efforts with the US appear to be easing pressure on the Middle Eastern nation. The Islamic republic expects to boost production to 3.4 million barrels a day by the end of summer, according to Oil Minister Javad Owji. That would put output near Iran’s capacity limit of 3.8 million barrels a day. The country has already boosted production by about 50% over the past two years, according to comments Owji made toIranian parliament’s energy committee reported by the ministry’s news service Shana. Owji’s remarks come amid diplomatic efforts between ... (full story)