Iran's daily crude oil production has increased to 3 million and 715 thousand barrels in October 2026. This figure represents an increase of 285,000 barrels per day and about 8.3 percent compared to September of this year. Additionally, this production level has increased by 55,000 barrels compared to October 2025.
Measures in the Oil Industry
The Iranian government has made significant efforts to develop oil production capacity over the past two years, despite sanctions and financial and technological limitations. The main focuses of these efforts include activating existing capacities, revitalizing low-yield wells, and developing joint fields. Furthermore, strengthening processing and transportation infrastructure is also a priority.
Production Increase Plans and Investment
In this regard, an emergency plan to increase crude oil production by 250,000 barrels has been defined with a budget of 3 billion dollars, of which 70,000 barrels per day of the target has been achieved so far. This plan is being implemented with 80 percent funding from the National Development Fund and 20 percent from the internal resources of the National Iranian Oil Company.
Additionally, contracts for the development of the Azadegan, Azar, Changuleh, and Band-e-Karkheh fields have been signed with a total investment of about 13 billion euros. In the infrastructure sector, private sector contracts have been signed to create 315,000 barrels per day of new processing capacity, bringing the total processing capacity allocated to this sector to 430,000 barrels per day.
According to the National Iranian Oil Company, 129 drilling rigs are active in the country, and a contract for the provision of services for 20 new rigs worth about one billion dollars has been signed for drilling 270 wells.
Continuation of Production and Development Programs
Hamid Bord, the caretaker of the Ministry of Oil, emphasized the continuation of production and development programs, strengthening oil trade and sales policies, and accelerating projects ready for inauguration. He called for solidarity and increased efforts from employees to turn the country's capacities into opportunities for construction. The continuation of this path depends on coordination among production, development, processing, and sales, sustainable financing, and utilizing the expertise of domestic specialists.
