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macroJul 2, 2026, 5:33 PM

Iran President Vows to Supply 100 Million Barrels of Oil Amid Criticism

Iranian President Pezeshkian states he will back armed forces with full strength, dismisses criticism over a 20 million barrel oil provision to a company, and pledges to supply 100 million barrels in similar future situations.

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In a statement reported by Fars News, Iranian President Pezeshkian affirmed his duty to defend the armed forces, vowing to support them with all his strength. He dismissed criticism regarding a provision of 20 million barrels of oil to a company, calling it an internal disclosure. Furthermore, Pezeshkian pledged to supply 100 million barrels of oil if a similar situation arises again, signaling Iran's readiness to increase oil supply.

This development could have implications for global oil markets, as Iran is a major oil producer. The president's comments suggest a proactive stance on oil exports, potentially affecting supply dynamics.

Source: First Squawk