Saturday, March 2, 2024

Ministry: Iran selling over one million barrels of oil a day

Iran’s oil ministry says the government has managed to avoid imprest funding from the central bank in the first months of the Iranian calendar year (starting from March 21) for the first time in the past years, thanks to an increase in oil export revenues.

The ministry said it has been selling oil abroad without any interruption despite the difficult circumstances of sanctions, amid reports that exports have been dropping over the past months.

The ministry also said it welcomes any breakthrough in the talks for the revival of the 2015 nuclear deal and removal of sanctions, but pledged to advance its exports regardless of the results of the talks.

The announcement comes after Iran Daily, which is the Iranian government’s official newspaper, earlier said oil revenues rose 60 percent year-on-year in the first two months of the current Iranian calendar year.

The official News Agency, IRNA, which is affiliated with Iran Daily, also quoted an informed official as saying that Iran is now exporting more than one million barrels of oil a day, amid the US maximum pressure campaign to zero the crude exports.

The official was also quoted as saying that there is greater potential demand for Iranian oil and that Iran is conducting marketing in this regard.

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