2024-07-09 07:08:16
Iran’s Oil Minister Javad Oji said the country currently exports crude oil to 17 countries, including some European ones.
As reported by Day.Az with reference to TASS, Iran, according to Oji, will not face problems in oil exports, regardless of who comes to power in the United States. He also noted that significant investments have been made in the oil industry over the past three years.
Iran produced 2.2 million barrels of oil per day at the beginning of Ebrahim Raisi’s rule (August 2021), but the current figure is around 3.570 million barrels per day, which shows a significant increase, Oji emphasized.
Oji also said that Iran’s oil exports increased from 182 million barrels in 2019 to 565 million barrels last year. In addition, the value of oil and gas condensates and other petroleum products exports increased from $10.8 billion in 2019 to $36 billion last year, recording a 3.5-fold increase.
Iran has become OPEC’s fourth-largest oil exporter, thanks to a sharp rise in crude production and sales. Iran’s crude and gas condensate exports have reached their highest level since 2018, when the United States withdrew from the Iran nuclear deal and imposed tough economic sanctions.
Iran’s crude oil and gas condensate exports currently account for 9% of OPEC’s total crude oil and gas condensate exports, according to a Vortexa report. Iran exported 1.56 million barrels of oil per day from January to May this year, 250,000 barrels per day more than Kuwait and Nigeria, making Iran the fourth-largest crude oil exporter in OPEC.
Despite Western sanctions, Iran managed to increase crude oil and gas exports to 1.7 million barrels per day in May, the highest in five years. The report cites increased demand for oil in China and the expansion of Iran’s fleet of oil tankers as the main factors driving the growth in Iranian oil exports.
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