Iran’s oil production up 0.12 mln bpd in year to September: Minister
Iran’s oil minister says the country has significantly increased its oil production despite the continued pressure of US sanctions.
Mohsen Paknejad said on Tuesday that Iran’s oil production had increased by 120,000 barrels per day in the year to September.
“Despite the restrictions and sanctions, new records have been set for exports and production of crude oil,” Paknejad told the state TV.
Iran's government does not disclose exact figures about Iran’s oil production and exports as authorities insist the data should be kept confidential because of the sanctions imposed on the country.
However, data by the Organization of the Petroleum Exporting Countries (OPEC) shows that Iran produced around 3.3 million bpd of oil in the June quarter.
That comes as data from the UK Energy Institute, cited in a report by Bloomberg in early July, showed that Iran had produced about 4.3 million bpd of crude plus another 725,000 bpd of other liquids in 2024.
Recent estimates suggest that Iran’s oil production has returned to levels seen in June after a fall experienced in early summer because of a 12-day war of aggression fought with the Israeli regime and repair programs carried out on offshore production sites in the Persian Gulf.
Figures by major international tanker tracking services have also pointed to a steady increase in Iran’s oil exports in the past months.
The Tanker Trackers said in a post on its X account on Monday that Iran’s oil exports had reached a seven-year record of nearly 2 million bpd in September.
That comes as the United States has announced dozens of new sanction packages targeting Iran's oil industry, including hundreds of bans on individuals and entities, since February, when Washington launched its so-called campaign of maximum pressure on the country.
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