Oil prices were stuck near 12-year lows at below 30 dollars in Asia today on worsening glut fears. National Iranian Oil Company said that it had ordered output to increase by 5 lakhs barrels per day as sanctions have been lifted under a nuclear deal with world powers. This announcement exacerbated an already oversupplied global market. However, analysts said that the return of Iranian oil to the market will be gradual due to certain constraints. Iran may also encounter difficulties because some of its oil infrastructure may need repair and replacement. It may take time for its idle oilfields to be ramped up to full production potential. Brent crude for March was trading 24 cents, or 0.88 percent, higher at 28.79 dollars. Brent plumbed below 28 dollars for the first time since November 2003 yesterday.