Iran’s oil output to rise with improvement in int’l climate

TEHRAN (ISNA)- Iranian Oil Minister Bijan Zanganeh expressed the hope that the country’s crude output would be boosted by improvement in the international climate.

It is expected that oil investment would rise to 4.2 trillion dollars from 2011-2035 or up to 14 trillion dollars based on the International Energy Agency (IEA) estimate, most of which is to be extracted from old fields.

It is expected that international oil demand would rise in some part of world economy in mid-term and long-term period despite global economic downturn, he said.

Zanganeh added the world’s demand would rise to 87 million barrels daily in 2010 to 107.3 million ones in 2035.



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