Iran remains fifth-largest global oil producer as output rises in 2025
Iran’s crude oil and condensate production surged 2.7% in 2025 to 4.446 million barrels per day (bpd), up 116,000 bpd from a year earlier, according to the latest Statistical Review of World Energy published by the UK-based Energy Institute (EI).
The report showed Iran accounted for 5.2% of global crude output in 2025, retaining its position as the world’s fifth-largest producer behind the United States, Russia, Saudi Arabia and Canada.
The data comes as US President Donald Trump’s second administration pursues a policy aimed at pushing Iran’s oil exports to “zero” through sanctions.
Separately, the International Energy Agency (IEA) said in its latest monthly oil market report that global oil demand was on track to decline this year for the first time since 2020, as the US-Israeli war on Iran continued to disrupt oil production and exports in the Middle East.
The agency said a recovery had begun following last month’s peace memorandum of understanding between Washington and Tehran, but warned that renewed escalation could further cloud the outlook.
According to the IEA, the latest round of fighting was triggered by differing interpretations of provisions governing the Strait of Hormuz under the agreement. Before the conflict erupted in February with US and Israeli strikes on Iran, the waterway carried almost one-fifth of the world’s oil and liquefied natural gas exports.
Under the MoU, Iran pledged to ensure the safe passage of vessels through the Strait of Hormuz.
The IEA said the effective closure of the strategic waterway had disrupted as much as 14 million bpd of crude oil flows, contributing to fuel shortages and higher prices that weighed on the global economy.
Since the memo was signed in mid-June, 52 tankers carrying about 62 million barrels of Iranian crude oil and petrochemical products have departed, according to Reuters.
The shipments was a sharp recovery after Iranian crude exports were largely suspended between mid-April and mid-June because of a US naval blockade on Iranian ports.
“Anticipating a possible imminent resumption of the US navy blockade, Tehran shipped out no less than 10 million barrels of crude oil and fuel oil overnight,” TankerTrackers.com said on Thursday in a post.
The peace memo was signed separately by Trump and Iranian President Masoud Pezeshkian on June 18. It extended the US-Iran ceasefire for 60 days and established a framework for future negotiations over Tehran’s nuclear program and other issues.