Iran output rises 187,800 b/d to 3.13 million b/d in February Iranian oil production climbed last month by the most in almost two decades following the end of international sanctions, according to OPEC. Iran increased output by 187,800 barrels a day to 3.13 million a day in February, the biggest monthly gain since 1997, the Organization of Petroleum Exporting Countries said in its monthly report. Supply from Saudi Arabia, Qatar and Venezuela — which tentatively agreed with Russia last month to keep output steady — was mostly unchanged. The group lowered estimates for the amount of crude it will need to provide this year amid slower declines in production outside the organization. Iran plans to boost crude output to 4 million barrels a day, the highest level since 2008, before considering joining other suppliers in re-balancing the market, Oil Minister Bijan Zanganeh said on Sunday, according to the Iranian […]