The head of National Iranian Oil Company (NIOC) has dismissed reports circulating on social media claiming a decline in the country’s crude oil exports as "false and baseless."
New data by a major tanker tracking service show that Iran’s oil exports to China dropped significantly in November amid a rise in domestic demand for energy as well as regional tensions that affected the transport and removed customers from the market.
Iran has exported as much as $23.2 billion worth of crude oil in the six Iranian calendar months to late September, according to a report by the country’s customs administration (IRICA).
Iran has sent small shipments of crude oil to new destinations such as Bangladesh and Oman, Reuters said citing shipping sources and data.
Iran exported $15.7 billion of oil overseas in the first four months of the current calendar year (March 21 to July 22, 2024), the head of the Islamic Republic of Iran Customs Administration (IRICA) said.
The analysts of the Standard Chartered Institute in an unconfirmed report estimated the Iranian oil export to China in June 2024 at about 1.450 million barrels per day (bpd).
A report by the statistical office of the European Union (Eurostat) suggests that Turkey has imported oil from Iran for the first time in four years.
Ever since the late Iranian President Ebrahiam Raisi took power in August 2021, the country’s oil exports have been on an upward trajectory.
Iran is exporting more oil than at any time for the past six years, giving its economy a $35bn-a-year boost, Financial Times said, citing figures by data company Vortexa.
The Japanese Nikkei daily newspaper has appreciated the major rise in Iran’s oil exports in 2023.