Iran’s full re-entry into the global oil market could take months following the lifting of Western sanctions this weekend, one of the country’s top oil officials said Sunday, signaling that ongoing limitations on banking could spell delays. Iranian officials said Sunday the country was preparing to increase production by 500,000 barrels a day. Some of that extra output could be sold immediately through existing contracts with China and other Asian countries. The volume of oil Iran could sell to its former buyers in Europe—where it was off limits for three years following the imposition of international sanctions—was unclear. Rokneddin Javadi, chief of the state-owned National Iranian Oil Co., said it may take nine months before Iran signs its first new oil-export deal following the implementation of an agreement on its nuclear program. Mr. Javadi said Iran still plans to boost its output by 1 million barrels a day but […]