According to reports by Iranian news agencies on Saturday, updated EIA data on oil exports by the Organization of Oil Exporting Countries (OPEC) revealed that Iran's total earnings from oil exports in 2022 totaled 54 billion, an increase of 35% from the oil sale figures the nation reported in 2021.
As figures revealed, Iran continued to be OPEC's fifth-largest oil exporter in 2022.
According to the statistics, the nation traded crude oil worth almost $18 billion in the five months leading up to May 2023.
Since Washington withdrew from a global agreement on Iran's nuclear program and imposed sanctions on Tehran in 2018, Iran's oil exports have been exposed to an unprecedented system of US sanctions.
According to remarks made by Iranian government officials and information from international tanker monitoring organizations, Iranian oil shipments have increased since the second half of 2022, with more supply going to private purchasers in China.
For Iran and its strategy of defying US sanctions, the surge has been seen as a big achievement.
The most recent reports indicate that Iranian oil exports are approaching an average of nearly 2 million barrels per day (bpd), up from an average of 1 million bpd reported over the second half of 2022 and a significant increase from record lows of about 300,000 bpd seen after the US government tightened its sanctions on Iran in May 2019.
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