Iran boosts oil production by 116,800 barrels a day
Iran increased its daily oil output by 116,800 barrels per day (bpd) Sunday, in keeping with recent decisions by the Organisation of Petroleum Exporting Countires, the daily Entekhob said.
The daily output is now 3,843,800 bpd, up from 3,727,000, the paper said.
It also quoted central bank statistics showing its average daily output for the first three months of the Iranian year -- which started March 21 -- was 3.637 million bpd of which 2.5 million went to export.
Iran, OPEC's second biggest producer, sends 60 percent of its oil exports to Asia, and the remainder to Europe and Africa, chiefly South Africa.
Entekhob said Iran could currently produce four million bpd.
OPEC decided on September 10 to up its total production by 800,000 bpd in a bid to cut rocketing oil prices. – (AFP)
© Agence France Presse 2000
© 2000 Mena Report (www.menareport.com)