Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Informed source to Al Mayadeen: SDF Commander-in-Chief Mazloum Abdi demands that al-Sharaa approve the establishment of an autonomous region similar to the Kurdistan Region of Iraq.
Israeli media: Three drones launched from Yemen toward Eilat in span of 20 minutes.
Qatari Foreign Ministry: "Israel" should have already ceased fire under Trump plan for Gaza
Qatari Foreign Ministry: Release of Israeli captives will mark end of war in Gaza in accordance with Trump plan.
Israeli media: Security incident in Gaza Strip classified as serious results in six wounded soldiers so far, two critically injured.
Al Mayadeen's correspondent in South Lebanon: Israeli drone strike targets vehicle in Deir Ames, Tyre governorate.
Lebanese Ministry of Health: Final toll from airstrike on car in Zebdine, Nabatieh District: Two martyrs, four injured
Egyptian media: Indirect talks between Hamas and Israelis begin in Sharm el-Sheikh.
AFP: France's new PM Sebastein Lecornu resigns just hours after unveiling cabinet.
Trump: Technical teams will meet again on Monday in Egypt to discuss and clarify the final details, and the first phase is scheduled to be completed this week

In defiance of sanctions, Iran's oil exports on the rise: Minister

  • By Al Mayadeen English
  • Source: News Websites
  • 24 Jun 2023 20:17
  • 1 Shares
3 Min Read

Javad Owji says the expansion of energy diplomacy and connections with Asian, African, and Latin American nations has assisted Iran in creating new markets for exporting its oil.

  • x
  • Iran's oil exports increasing despite sanctions: Minister
    Iranian oil minister Javad Owji (AFP)

In an interview for IRNA on Friday, Iran’s oil minister Javad Owji disclosed that energy diplomacy with Asian, African, and Latin American countries helped Iran expand its oil market and promised that great news on oil sales is soon expected. 

According to the Minister, Iran's oil exports increased to 1.9 million barrels per day (bpd) in May, citing President Ebrahim Raisi.

In early June, Owji stated that those who imposed sanctions on Iran believed they could stymie Iran's growth and advancement by using the terroristic weapon of sanctions, despite the fact that it is a double-edged sword with which they must contend.

Owji added that foreign agencies that monitor the countries' oil exports have recorded an increase in Iran's output and exports.

Read more: Iran discusses energy issues with Bulgaria and Romania

Last week, Reuters released a report detailing that Iran's crude exports and oil output will reach new heights in 2023 despite US sanctions, contributing to world supply at a time when other producers are cutting output.

Related News

Hezbollah condemns E3, US for imposing snapback sanctions on Iran

Russia slams efforts to revive Iran sanctions via snapback mechanism

Tehran's oil exports have been restricted since former US President Donald Trump abandoned a 2015 nuclear deal and reimposed sanctions aimed at limiting oil exports and the related revenue to Iran's government in 2018.

Nonetheless, exports have increased during the presidency of his successor, Joe Biden, according to the research.

According to Kpler, a flow data company, Iranian oil exports hit 1.5 million barrels per day (bpd) in May, the highest monthly rate since 2018. Prior to the United States' exit from the nuclear accord in 2018, they were at about 2.5 million bpd.

The International Energy Agency estimated Iran's May output at 2.87 million bpd, which is close to the country's official figure.

The hike from Iran comes as OPEC+, which comprises OPEC, Russia, and other partners, is limiting supply to stabilize the oil market, where fears of economic weakness have pushed up prices.

According to some observers, Iran's production and exports have increased. According to SVB International, petroleum output reached 3.04 million bpd in May, up from 2.66 million bpd in January. In May, oil and condensate exports totaled 1.93 million bpd.

Before the 13th (current) government took office in early August 2021, Iran had 87 million barrels of gas condensates in storage offshore and onshore, according to Owji, who described the situation as an Achilles' heel since they were difficult to sell.

The 13th administration, on the other hand, sold the stockpiled gas condensates and is now selling about 800 barrels generated per day despite the harshest penalties, he concluded.

  • Iran
  • Iran oil
  • Sanctions on Iran
  • Javad Owgi

Most Read

Iraq at a crossroads: A new war front?

Iraq at a crossroads: A new war front?

  • West Asia
  • 30 Sep 2025
Tucker Carlson speaks at a memorial for Charlie Kirk, Sunday, September 21, 2025, at State Farm Stadium in Glendale, Arizona (AP)

Tucker Carlson: Israeli officers gave orders on Iran inside Pentagon

  • Politics
  • 2 Oct 2025
A Hamas fighter in combat fatigues stands before the ceremony for the handover of Israeli captives to the Red Cross in Nuseirat, central Gaza Strip, Saturday, February 22, 2025 (AP)

Hamas responds to Trump plan, backs Gaza withdrawal, exchange

  • Politics
  • 3 Oct 2025
ap

'Israel' pays influencers $7K per post to whitewash Gaza genocide

  • Politics
  • 1 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Hezbollah's representative in Iran, Sayyed Abdullah Safieddine, during an interview with Al Mayadeen which aired on October 6, 2025 (Al Mayadeen)
Politics

Tehran never interferes in Hezbollah decisions: Representative in Iran

Smoke billows over the Gaza Strip following an Israeli bombardment, as seen from southern Palestine, Sunday, Oct. 5, 2025. (AP)
Politics

Indirect talks for a ceasefire in Gaza begin in Sharm El-Sheikh

Fighters from the Syrian Democratic Forces (SDF) prepare to attend a military parad in Qamishli, northeastern Syria, Tuesday, August 12, 2025 (AP)
Politics

Security forces seal Aleppo’s Sheikh Maqsoud, Ashrafieh districts

Amsterdam Captain Mohammed Ali Mohiuddin, who took part in the Global Sumud mission to Gaza, talks to Al Mayadeen on October 6, 2025 (Screengrab)
Politics

GSF captain says despite abuse, 'Israel weaker than spider's web'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS