Iran’s oil output could hit 4.5m b/d if investment flows

Production could rise by 0.9m b/d by 2025 but it needs help from international oil companies (IOCs)

Iran's oil production could reach 4.5m barrels per day over the next decade - but only if it manages to secure billions in foreign investment to boost recovery rates, according to Wood Mackenzie. After emerging from international sanctions in January, the Islamic Republic's oil output has increased by more than any other Opec member this year, reaching 3.6m b/d in July. Tehran is targeting 4m b/d as soon as possible, or roughly its level before sanctions. By 2021 the National Iranian Oil Company wants output to reach 4.8m b/d. Iran's 2021 oil output target may be a stretch but by 2025 production could reach 4.5m b/d if just five or six new projects are developed, the consultancy said. The co