Iran’s oil exports up 50% in 2023: Report

A report shows that Iran’s oil exports increased by half last year despite the United States imposing sanctions on the country.

News ID: ۸۲۲۷۳۱

31 January 2024

EghtesadOnline: The Wednesday report by the Japanese newspaper Nikkei showed that Iranian overseas oil shipments had reached an average of 1.3 million barrels per day (bpd) in 2023, up nearly 50% compared to the previous year and the highest on record over the past five years.

The report cited figures by the International Energy Agency showing that Iran’s total crude oil production had reached 2.99 million bpd last year, up by 0.44 million bpd from 2022.

The figures confirm earlier media reports and statements by Iranian government authorities suggesting a major surge in Iranian oil production and exports in 2023 despite the country still being subject to a harsh regime of US sanctions.

According to the same reports, China has been responsible for a bulk of Iranian overseas oil sales. / mehr