Iran expects to restore oil output within month of US lifting sanctions
A senior official at the National Iranian Oil Company said that if the United States lifts sanctions on Iran, the country expects to restore its crude oil output to pre-sanctions levels in a matter of months.
Iran will quickly scale up its crude oil output if US sanctions are lifted as part of a revived nuclear agreement between Tehran and world powers, a senior official at the National Iranian Oil Company (NIOC) told state media outlets.
“If sanctions are lifted, the bulk of Iran’s output will be restored within one month, with full output restoration happening within three months,” Farokh Alikhani, NIOC’s production manager, told Shana news agency.
"Careful planning has been done to restore oil output to pre-sanctions levels in intervals of one week, one month and three months," Alikhani said, adding that Iran planned to increase output to 3.3 million barrels a day within a month of the lifting of sanctions.
But during a congressional hearing on Tuesday, Secretary of State Antony Blinken estimated that “hundreds” of sanctions — including ones imposed by the Donald Trump administration — would remain if the United States reenters the nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA).
