Iran Can Become Key Source Of Global Oil Supply Growth In 2022 If Sanctions Lifted - IEA

Iran Can Become Key Source of Global Oil Supply Growth in 2022 If Sanctions Lifted - IEA

Iran can bring its oil production to 3.8 million barrels daily by 2022 and become the key source of the global oil output growth if the sanctions are lifted, the International Energy Agency (IEA) said on Friday

MOSCOW (Pakistan Point News / Sputnik - 11th June, 2021) Iran can bring its oil production to 3.8 million barrels daily by 2022 and become the key source of the global oil output growth if the sanctions are lifted, the International Energy Agency (IEA) said on Friday.

"There is the issue of Iran's return if and when sanctions are eased. Should an agreement be reached in the coming weeks to restore the nuclear deal, Iranian crude supply could rise by 750 kb/d to 3.15 mb/d by the end of this year and ramp up to full capacity of 3.8 mb/d by the second half of 2022 ... If that happens, Iran may rank as the world's largest source of oil supply growth in 2022," IEA said in its monthly oil market report.