Iran can boost oil production in one week after international sanctions are lifted.
Production can increase by 500,000 barrels a day within a week after sanctions end and by 1 million barrels a day within a month. Sanctions against Iran’s oil industry should be lifted by late November
Oil producers such as BP Plc and Royal Dutch Shell Plc have expressed interest in developing Iran’s reserves, the world’s fourth-biggest, once sanctions are removed. Iran is organizing a conference in London in December to discuss new oil contract models with international companies.
The possible return of Iran in the international arena as a serious producer of oil can lead to decrease in prices of black gold.
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