2024-04-06T10:58:49+00:00
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/ Statistics from the British company British Petroleum showed that the tightening of sanctions against Iran and the increase in Iraqi oil sales in the last two decades have pushed Iraq to assume the position and market of Iranian oil in the region.
According to the British company specialized in the field of oil exploration, when talking about the Iranian economy, oil is considered one of the most important variables that must be examined. This black gold has affected the Iranian economy such that with the flood of its sales in global markets, the Iranian economy is witnessing great prosperity, and with the decline in its sales , is on the road to stagnation.
Studies have previously pointed out the importance of oil revenues and the difference in oil sales statistics from three reliable sources, and the reason for this difference has been discussed in detail. Below, we intend to study changes in the share of Iranian oil sales among oil-rich countries in the region.
Iraq, Saudi Arabia, the Emirates, and Qatar are among the leading countries in the oil industry in the region, similar to Iran, so anyone who wants to see the performance of Iranian oil sales compared to these countries should take a look at oil sales statistics and examine them carefully.
Iraq is leading
According to oil statistics provided by British Petroleum (BP), since 2004, Iran has become the second oil exporting country among these five oil countries after the Kingdom of Saudi Arabia. This year, Saudi Arabia’s oil exports reached 6 million and 800 thousand barrels per day, while Iran’s exports are two million and 700 thousand barrels, and Iraq was at that time the fourth largest oil exporter among these countries and sold only one million and 500 thousand barrels of oil per day.
Over time, Iran continued to maintain its position among these five countries until 2011, but Iraq’s exports did not remain constant as was the case in Iran, but rather rose to reach two million and 400 barrels of oil per day.
In 2011, with the beginning of a series of oil sanctions on Iran, Iranian oil sales suddenly suffered a severe blow, and this blow continued, even after the nuclear agreement in 2015, so that Iraq overthrew Iran and ranked second in the region, and Iran fell to fourth.
The positive impact of the JCPOA on the Iranian oil market contributed to Iran’s oil export position rising by one point among the five countries, reaching third place in 2017, but this success was short-lived.
With Trump’s accession to American power and his withdrawal from the nuclear agreement, as well as the beginning of the Corona pandemic, Iran declined again in 2021, and ranked second with a daily export of 1.9 million barrels.
This comes at a time when Iraq exported 3.4 million barrels of oil per day that year, ranking second after Saudi Arabia among the five oil-producing countries in the region.
The increase in Iraq’s oil sales and the tightening of oil sanctions on Iran in these two decades caused a change in the position of Iran and Iraq in oil sales, and Iraq was able to seize Iran’s position and its oil markets.