Iran exporting oil to seventeen countries

Iran is currently exporting crude oil to 17 countries, including some in Europe. The country will not face any problem in exporting oil no matter who comes to power in the United States, said Javad Oji, Iranian oil minister.

Speaking at a ceremony on Tuesday, he stated that good investment has been made in the past three years in the oil industry.

Iran produced 2.2 million barrels of oil per day (bpd) at the outset of the administration of the late President Ebrahim Raisi, but the current oil production rate is about 3.570 million bpd, showing a considerable hike, Oji underlined.

He went on to say that Iran’s oil exports rose from 182 million barrels in 2019 to 565 million barrels last year.

In addition, the value of the export of oil and gas condensates and other oil and petrochemical products rose from US$10.8 billion in 2019 to US$36 billion last year, registering a 3.5 times growth, the oil minister added.

Iran has risen to become the fourth largest oil exporter within the Organization of the Petroleum Exporting Countries (OPEC) due to a surge in oil production and sales.

The report cited the rise in Chinese oil demand and the expansion of Iran's oil tanker fleet as the main factors contributing to the surge in Iran's oil exports.