OREANDA-NEWS. Iran's production of crude and condensate has risen by more than 25pc since the country was freed of all nuclear-related sanctions in January, President Hassan Rohani said.

Iran has been raising oil production and exports since the five permanent members of the UN security council plus Germany — known as the P5+1 — began lifting sanctions on Iran on 16 January, as per the nuclear deal struck in July 2015.

Speaking on state television, Rohani put Iran's total liquids output in the Iranian calendar month of Tir at 4.15mn b/d, up by 28pc from the 3.25mn b/d in the 10 months leading up to the lifting of sanctions. Tir runs from 21 June to 21 July.

Rohani said crude and condensate exports are up by 80pc over this same period, to average 2.43mn b/d in Tir. Liquids exports in the 10 months to January averaged 1.348mn b/d.