Iran is now exporting more than two million barrels of oil per day now that it is no longer being sanctioned, AFP reports.
Oil Minitser Bijan Zanganeh confirmed with official Iranian news that this is an increase of 250,000 barrels per day since March 1 and double the production from before the nuclear deal came into effect in January.
These increased exports have also caused the price of oil to drop below $40 per barrel, compared with over $100 per barrel less than two years ago.
Iran holds the fourth-largest oil reserves in the world.