Iran will raise its oil production capacity to over 4 million barrels per day (bpd) by the end of the current Iranian year that ends in March 2023, the chief executive officer of the National Iranian Oil Company (NIOC) told local news agency IRNA on Friday. Iran’s current production capacity stands at 3.838 million bpd, Mohsen Khojastehmehr told IRNA. The top executive at the Iranian oil firm said that the Islamic Republic would ramp up its oil production capacity by 200,000 bpd by March 2023, when the current Iranian year ends. By then, Iran aims to have its production capacity topping 4 million bpd, at 4.038 million bpd, NIOC’s chief executive said. Thanks to increased production capacity, Iran could boost oil exports if international markets need it, Khojastehmehr was quoted as saying. Per OPEC’s secondary sources in its latest Monthly Oil Market Report (MOMR), Iran pumped 2.558 million bpd […]