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Iran’s oil exports at 2.1 m/bpd in June

US Rep. Ilhan Omar (D-MN) (L) talks with Speaker of the House Nancy Pelosi (D-CA) during a rally with fellow Democrats before voting on H.R. 1, or the People Act, on the East Steps of the US Capitol on March 08, 2019 in Washington, DC. (AFP photo)
Mohsen Qamsari, the manager for international affairs of the National Iranian Oil Company (NIOC), says Iran’s oil exports stood at 2.1 million barrels per day (m/bpd) in June. (Shana)

Iran says its exports of crude oil reached 2.1 million barrels per day (m/bpd) in June. Yet, a top official in Tehran says the figure is still at least 0.4 m/bpd less than the average volume of oil exports of the country before the US-engineered sanctions were imposed against it.

Mohsen Qamsari, the director for international affairs of the National Iranian Oil Company (NIOC), told reporters that Iran’s total exports of crude oil and condensate reached 2.74 m/bpd in June. The figure, Qamsari added, includes 0.6 m/bpd of condensate. 

“The status of Iran’s oil exports is good but they have not yet reached the pre-sanctions levels,” he has been quoted as saying by Shana news agency. 

“Iran’s exports of condensate in those years were lower than today’s levels,” emphasized the official. “Nonetheless, the total volume of the exports of oil and condensate presently is the same as that of pre-sanctions years.”

Qamsari further said that most of Iran’s old clients have resumed purchasing oil from the country. He added that negotiations are nevertheless underway with a number of Asian clients over new sales contracts. 

Iran’s exports of oil stood at 2.35 m/bpd before the sanctions were imposed against the country in 2011.  The sanctions restricted the country’s oil exports to around 1 m/bpd among other economic bans – already described by analysts as the toughest the world has ever seen.  They were lifted in January after a deal that Iran reached with the P5+1 – the five permanent members of the Security Council plus Germany – over the Iranian nuclear energy program became effective.   

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