Iran’s crude oil production capacity will reach 4.38 million barrels per day by the end of this calendar year with an increase of 200,000 barrels per day, Mohsen Khojastehmehr said, reported IRNA.

He said crude oil production capacity reached its pre-sanction’s level under the Raisi administration by March 2022, adding that oil production capacity is now 3.838 million barrels per day.

He continued: “By the end of this [calendar] year, with the measures taken, Iran's oil production capacity will increase to 4.038 million barrels per day.”

Regarding the increase in oil exports under Raisi administration, the Deputy Petroleum Minister said: “Considering the increase in oil production capacity, it is possible to increase our exports due to the demand in international markets.”

Khojastehmehr emphasized: “This is an optimal capacity so that whenever the international conditions are more open, we will be ready to significantly increase exports and return to the world markets with maximum power.”