Iran to boost oil production by 90,000 bpd

[Aramagedon]

Iran to boost oil production by 90,000 bpd

http://theiranproject.com/blog/2017/01/22/iran-boost-oil-production-90000-bpd

January 22, The Iran Project – Iran is approaching an increase of 90.000 barrels of oil production according to the OPEC agreement, said Deputy Head of NIOC for Development and Engineering Affairs on Sunday.

Speaking about the news released about Iran’s 3.9 million bpd oil production which nears surpassing the 3.8 million bpd limit set by the recently negotiated OPEC deal, Gholamreza Manouchehri noted that there are some differences between Iran and OPEC statistics.

He further explained that we have still the opportunity to increase the amount of oil production, adding Iran’s average oil production in 6 months should be according to the limit set in the OPEC deal.

On November 30, the 171st (Ordinary) OPEC meeting was held in Vienna, Austria, at which the 14 member countries confirmed the decision to reduce production for the first time since 2008.

While the Organisation of Petroleum Exporting Countries (OPEC) agreed to cut production of oil in a bid to rescue tanking prices, Iran was allowed to increase production by 90,000 barrels per day to reach pre-sanction output levels of 4 million bpd – the only OPEC member to boost production under the deal.

Riyadh had previously insisted that Tehran join in any production cut, but a breakthrough was made during the meeting, with Iran reportedly playing up regional neighbourliness with Saudi Arabia.

Saudi Arabia, itself, agreed to cut its production by 486,000 bpd and pledged to produce 10 million barrels per day (mb/d) from January 2017.

 

[Oracle]

but why their economy is still drowning ? some Sanctions were lifted in 2016 and still there is no good news for iranian economy.

Irianian currency graph since 2003.

 

[AmirPatriot]

but why their economy is still drowning ?

Who says our economy is "drowning"? Its growing at nearly 5%. Currency =/= GDP.

 

[Chinese-Dragon]

So global oil prices are going to go down? Good for regular consumers and Government budgets worldwide.

 

[mohsen]

but why their economy is still drowning ? some Sanctions were lifted in 2016 and still there is no good news for iranian economy.

Irianian currency graph since 2003.
View attachment 371447

We sell oil but can't receive the money!
Plus huge boost in our import.

 

[AmirPatriot]

So global oil prices are going to go down? Good for regular consumers and Government budgets worldwide.

90,000 barrels won't have an appreciable impact on oil prices... this will just increase revenue, especially now other countries are reducing output (Iran is only freezing output).

 

[Aramagedon]

but why their economy is still drowning ? some Sanctions were lifted in 2016 and still there is no good news for iranian economy.

Irianian currency graph since 2003.
View attachment 371447

2013: sanction and blocking Iranian oil money

 

[mohsen]

Who says our economy is "drowning"? Its growing at nearly 5%. Currency =/= GDP.

جزئیات سانسور شده از محاسبه رشد اقتصادی بانک مرکزی/ رشد بدون نفت ۰.۹ درصد+‌جدول

 

[ARABIC]

Iran total oil production is 90,000 b/b only

 

[Erl]

It is a huge mistake to sell oil and other carbonic underground reservoirs. Iran has to change it's economic system from an importer of goods to an exporter country. Oil can fulfill budget problems and finally we can manage to sell oil only to our brother Muslim countries and get fully independence from oil importer countries.
Keep your brothers close to yourself but stay independent from all countries. That is what we have to do.

 

[AmirPatriot]

Iran total oil production is 90,000 b/b only

Nearly 4 million barrels per day.

https://en.wikipedia.org/wiki/Petroleum_industry_in_Iran

Come on if you're going to troll at least make it even a little bit believable.

 

[haviZsultan]

Iran should stop relying so much on oil. It is a beautiful country as I have seen on Kish but its surprising that even after being an oil rich state the gdp is no better than Venezuelas though clearly superior to our own. Iran needs to focus on diversifying its economy other than creating an egalitarian society. I didn't like the fact that our women on the trip had to wear hijab compulsarily. Western people will never come to a country that imposes these type of conservative rules. As a result very few westerners have come and noticed how Iranians are in reality rather than what is fed by USA.

 

[AmirPatriot]

Iran should stop relying so much on oil. It is a beautiful country as I have seen on Kish but its surprising that even after being an oil rich state the gdp is no better than Venezuelas though clearly superior to our own. Iran needs to focus on diversifying its economy other than creating an egalitarian society. I didn't like the fact that our women on the trip had to wear hijab compulsarily. Western people will never come to a country that imposes these type of conservative rules. As a result very few westerners have come and noticed how Iranians are in reality rather than what is fed by USA.

Iran doesn't rely on oil, it makes up only 25% of GDP and government revenue. Its a big sector but we aren't reliant on it like Saudi.

And Iran's GDP PPP is $1.5 trillion, far bigger than Venezuela's $450 billion.

 

[Rajaraja Chola]

Is India buying more of it?

 

[AmirPatriot]

Is India buying more of it?

I don't know how much more oil India needs, already their biggest source of oil is Iran