(MENAFN)The country begun increasing its oil production and will be capable to amount at pre-sanction levels within two months, according to Iran’s Deputy Oil Minister Amir Hossein Zamaninia.
According to Bloomberg, Zamaninia stated that Iranian oil won’t establish any surplus in the oil market and the market will be capable to contain the country’s maximum oil output of around 3.9 million to four million barrels a day.
Iran has restrained its oil production to less than half of its total capacity because of the problems that the country is facing for its oil exports since the re-imposition of the U.S. sanctions, according to the report.
Joe Biden is estimated to look for renewal of the nuclear deal amounted at with Iran in 2015; and officials in Tehran have shown hope that he will relieve restrictions on Iranian oil exports.
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