TEHRAN- Iran crude oil output has surpassed 3.5 million barrels per day (bpd), said Managing Director of National Iranian Oil Company (NIOC) Rokneddin Javadi in his interview with the Shana news agency on Saturday.

On average, he said, Iran’s oil exports in April has surmounted to 2 million bpd while the export of gas condensate is expected to rise 10 percent by the end of the month.

According to a Platts survey, Iran’s oil production climbed by 110,000 bpd to 3.23 million bpd in March. The country’s oil output surged by 187,800 bpd in February.

Iran, once OPEC’s second-largest producer after Saudi Arabia, is seeking to clear space for its gradual return to the market now that the sanctions are being lifted against the country. 

Western sanctions cut Iran’s oil output to 2.7 million bpd from 3.9 million bpd. 

Iranian Oil Minister Bijan Namdar Zanganeh has vowed to reclaim the country’s share of global crude oil exports within months of sanctions being lifted.

With holding 157 billion barrels of recoverable crude oil reserves, Iran possesses the world’s fourth largest crude oil reserves.  

SJ/MA