TEHRAN - Iran’s oil output increased to 3.83 million barrels per day (bpd) in February, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data.

As part of the OPEC and non-OPEC deal, Iran was allowed to increase supply after years of sanctions that hurt its oil industry. 

According to Bloomberg, the Organization of Petroleum Exporting Countries’ production fell to 32.17 million barrels a day in February, a 65,000 barrel-a-day drop from January, the first month of the accord. 

A monitoring committee last week found the non-OPEC countries also achieved 66 percent of their pledged cuts for January.

Iranian Oil Minister Bijan Namdar Zanganeh said on Monday that the country’s oil production will reach over 3.9 million bpd in February.

Iran’s crude oil output was 3.9 million bpd in January, Zanganeh had previously announced.

According to a survey by Reuters published on January 31, Iran increased its oil output by 20,000 bpd in January after the country was exempted from the OPEC cuts.

Also, National Iranian Oil Company (NIOC) Managing Director Ali Kardor said on February 4 that Iran plans to boost its output to 4 million bpd by the end of the current Iranian calendar year (March 20).

EF/MA