Minister: Iran oil exports ascending despite ‘harsher’ sanctions
Iran’s oil minister said his country’s oil products and exports have climbed in spite of “harsher” sanctions.
Talking to IRNA, Javad Owji added that the promotion of energy diplomacy and relations with Asian, African, and Latin American countries have helped Iran create new markets for its oil.
He vowed that good news on oil sales will be announced in the coming months.
The minister quoted President Seyyed Ebrahim Raeisi as saying that Iran’s oil exports rose to 1.9 million barrels per day (bpd) in May.
Owji said international institutes that monitor the countries’ oil exports have reported the hike in Iran’s output and exports.
Last week, a Reuters report quoting consultants, shipping data and a source familiar with the matter said Iran’s crude exports and oil output have hit new highs in 2023 despite U.S. sanctions, adding to the global supply when other producers are limiting output.
Tehran’s oil exports have been limited since former U.S. president Donald Trump exited a 2015 nuclear accord in 2018 and re-imposed sanctions aimed at curbing oil exports and the associated revenue to Iran’s government.
Even so, Iran’s oil exports have risen during the term of U.S. President Joseph Biden, the report continued.