Largest growth in Iran’s oil production in 2017; unlikely to reach pre-sanction levels

February 23, 2016


Rystad Energy’s latest research expects Iranian crude oil production to rise to 3.4 million barrels per day in 2017, from approximately 2.8 million barrels per day in 2015, reflecting the largest growth in oil production for almost a decade.

While Iran has voiced its support to the recent Saudi-Russia-led proposal for a production ceiling, the country has not mentioned explicitly about capping its own output at January 2016’s level.

Iran has also expressed ambitions to increase its crude oil output to pre-sanction level before 2012.

However, Rystad Energy's analysis predicts that output will not reach the pre-sanction level, which is above 3.7 million barrels per day, highly due to the country’s lack of new investment and declining production rate from maturing fields.

 

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Article Contacts

Espen Erlingsen, VP Analysis
Phone: +47 24 00 42 00
espen.erlingsen@rystadenergy.com

Julia Weiss, VP Marketing
Phone: +47 48 29 87 61
julia.weiss@rystadenergy.com

About Rystad Energy

Rystad Energy is an independent oil and gas consulting services and business intelligence data firm offering global databases, strategy consulting and research products.

Rystad Energy’s headquarters are located in Oslo, Norway, with additional research teams in India. Further presence has been established in Norway (Stavanger), the UK (London), USA (New York & Houston), Russia (Moscow), Brazil (Rio de Janeiro), Africa as well as South East Asia.