Iran Will Reportedly Hike Oil Production if Biden Eases Sanctions Trump Imposed



Mark Moore | New York Post

Iran said it will increase production of oil to full capacity in the next three months if President-elect Joe Biden relaxes sanctions when he takes office in January, according to a report.

President Hassan Rouhani was quoted in state media saying that before President Trump exited the Iranian nuclear deal in 2018 and reimposed crippling sanctions the Islamic Republic had exported more than two million barrels a day, Reuters reported on Sunday.

“The Oil Ministry will take all the necessary steps to prepare the oil industry’s facilities to produce and sell – proportionate to the available capacity – within the next three months,” the news service reporting, citing state-controlled news agency IRNA.

To read the full article, click here.