Iran’s Oil Production Estimated to hit 3.15 million barrels in August

According to mew ship-tracking data suggests Iran’s crude oil production and exports climbed above pre-sanction levels in month of August. Only in August, Iran’s oil production is estimated to have hit 3.15 million bpd while some export estimates were as high as 1.77 million bpd.

The export of oil by Iran has been increased while simultaneously negotiating with the U.S. over billions of dollars in frozen Iranian assets.

The oil production and exports by Iran likely soared in August to the highest, the country has been raising its crude and condensate production for months and has increased shipments of its oil, mainly to China.

United States and Iran are said to be talking over the possible release of five Iranian Americans being held in Tehran, and unfreezing of billions of dollars in frozen Iranian assets.

According to several tanker-tracking firms and consultants told Reuters, in August, Iran’s oil production is estimated to have hit 3.15 million barrels per day (bpd).