No Script

Please Wait...

Al-Ahed Telegram

Iran Oil Exports Reach Five-year High

Iran Oil Exports Reach Five-year High
folder_openIran access_timeone year ago
starAdd to favorites

By Staff, Agencies 

Iran’s Oil Minister Javad Owji announced that the country’s exports surged last year to its highest level since 2018.

According to Owji, the country has exported 83 million more barrels of oil since the start of the Iranian year on March 21, 2022 than in the same period of the previous year. 

The official did not specify the exact amount of oil exports, but said they had reached the highest level since US sanctions were re-imposed some five years ago. Gas exports were also up by 15% compared to the previous Iranian year, Owji said.

Tehran’s oil exports have been curtailed since 2018, when former US President Donald Trump exited a 2015 nuclear deal and re-imposed sanctions targeting Iran’s oil, banking, and transportation sectors, aiming to slash Tehran’s revenues. Exports subsequently dropped to as little as 100,000 barrels per day [bpd] at various times, from over 2.5 million bpd in 2018, according to tanker tracking data.

Earlier this month, the US imposed new sanctions on 11 firms and 20 affiliated shipping vessels that had allegedly facilitated Iranian exports of petroleum and petrochemical products in violation of US restrictions.

Comments