Iran's oil sector continues to grow in Q1: Minister

Iran's minister of oil said that the oil sector of the country witnessed a significant growth over the first three months of this year in the Iranian calendar (March 21 to June 22, 2024).

News ID: ۸۵۱۲۲۶

02 July 2024

EghtesadOnline: The Economic Coordination Headquarters held a meeting presided over by the acting president Mohammad Mokhber, where the Central Bank of Iran (CBI) and the Planning and Budget Organization (PBO) provided reports about inflation and economic growth, the oil minister Javad Owji said, according to the CBI website as cited by oil ministry news service SHANA.

The production sector growth has continued during the first three months of the year 1403 in the Iranian calendar (started March 21, 2024), the oil minister added.

According to the CBI report, the service sector growth stood at 2.7 and 3.8 percent over the two past years.

The oil sector growth reached 10 percent and 14.7 percent during the corresponding period, mainly due to rising crude and condensate production and exports, according to the report.

The PBO report indicated a continuation of economic growth over the first three months of this year of 1403. / Mehr