Iran's major oil company raises production of 600,000 barrels per day

 Iran's major oil company raises production of 600,000 barrels per day

Iran’s largest oil and gas companies – NISOC just announced an increase in oil production by nearly 600,000 buckets per day.

On April 10, NISOC CEO Alireza Daneshi said the company’s yields are now close to levels before the U.S. sanctions against Iran in 2018.

NIOC is a state-run NIOC subsidiary of Iran's National Oil Company (NIOC), which controls several essential oil areas in southern Iran. The company used to be able to pump more than 3 million barrels a day before the U.S. sanctions on Iran.

The Iranian government, which took office last August, has shown its ability to boost crude oil production and exports despite US pressure on traditional customers to buy Iranian crude oil.

Iranian oil ministry officials recently estimated that the country’s crude oil production capacity has reached its pre-punishment number of more than 3.8 million barrels per day.

Iran's crude oil exports have risen to three-year high, at a record 1.5 million barrels/day last year, and retaining that level until early this year.

Iran's crude oil exports have risen to three-year high, at a record 1.5 million barrels/day last year, reports show, and have maintained that level until early this year.