Zanganeh says Iranian oil output can reach 6.5 mln bpd -SHANA

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Gas flares from an oil production platform at the Soroush oil fields in the Persian Gulf, south of the capital Tehran, July 25, 2005. REUTERS/Raheb Homavandi/File Photo

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DUBAI, May 31 (Reuters) - Iran's oil output can easily reach 6.5 million barrels per day (bpd) when U.S. sanctions are lifted, Iranian Oil Minister Bijan Zanganeh said on Monday, according to the Ministry's SHANA website.

Zanganeh also said an increase in Iranian oil output would boost the country's political power, as Tehran and world powers pursue talks to lift the U.S. sanctions that have stopped it from pumping anywhere near capacity since 2018. read more

Former U.S. President Donald Trump ditched Iran's 2015 nuclear deal with six powers three years ago and reimposed sanctions that have crippled Iran's oil-reliant economy.

Iranian authorities say sanctions have only delayed the moment when it will produce the oil in its vast reserves, which the world will eventually need.

Any increase in Iranian supply would be on top of extra barrels already expected from the Organization of the Petroleum Exporting Countries and allies, or OPEC+, which plans to bring back about 2 million bpd of output through July. read more

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Writing by Parisa Hafezi Editing by David Goodman

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