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Crude exports bounce back after sanctions stranglehold

by Zamaneh Media
June 12, 2015
in Featured Items
Reading Time: 1min read
0

The International Energy Agency reports that Iran’s crude exports in May of 2015 made a big jump after being dragged down three years ago by the tightening of international sanctions on the country’s petroleum exports.

opec-3

According to the report released on June 11, Iran exported 1.4 million barrels a day in May, which was 235,000 more barrels a day than in April. This is reportedly Iran’s highest level of crude exports since June of 2012, when the U.S. and European sanctions kicked in.
The IEA reports that Iran pumped a total of 2.85 million barrels a day last month, speculating that it is preparing to further increase its oil exports as soon as the sanctions are fully lifted.

Before the sanctions on its oil trade, Iran was the second-biggest oil producer in OPEC but in the past three years it has fallen to fifth place.

The IEA reports that Iran’s oil production facilities have the capacity to produce 3.4 million to 3.6 million barrels a day within a few months of the sanctions being lifted.

The ongoing negotiations between Iran and the world powers over Iran’s nuclear program are set to culminate by the end of June, at which time it’s expected that all sanctions against Iran will be dropped.

Tags: oil exportsOPECsanctions on Iran
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RSS Iran in other media

  • U.S. bombs Iranian militia sites in Syria; Kaine says Congress should've been consulted in advance - 13newsnow.com WVEC
  • Iran condemns US airstrikes in Syria - DW (English)
  • Biden’s decision to strike Iran’s proxies is a good start - Brookings Institution
  • Biden sends a message to Iran, but with a scalpel instead of a sledgehammer - CNN
  • Correspondence - Covid-19 vaccine rollout in Iran, Sharia law in Thailand and camel milk in Kenya - FRANCE 24
  • India to supply four more cranes to Iran's Chabahar port to boost ops - Mint
  • Iran in the South Caucasus: Adjustment and Evolution - RUSI Analysis
  • US carries out air strikes in Syria targeting Iranian backed militias - CNN
  • Iran: Killings Near Pakistani Border - Human Rights Watch
  • Iranian state entity fails to overturn billion-euro award - GAR
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