Tehran Becomes 4th Largest OPEC Exporter

In a significant development, Iran has emerged as the fourth largest oil exporter within the Organization of the Petroleum Exporting Countries (OPEC), according to a report by Vortexa, a leading provider of data on the global energy sector.

Iran (IMNA) - The report highlights that Iran's oil and gas condensate exports have reached their highest level since 2018, with the country now accounting for 9% of OPEC's total crude oil and gas condensate exports. The surge in exports is attributed to a significant increase in production and sales, with Iran exporting 1.56 million barrels of oil per day from January to May, surpassing Kuwait and Nigeria.

The country's crude oil and gas exports rose to 1.7 million barrels per day in May, the highest level in five years, despite facing Western sanctions. The report attributes the growth in Iranian oil exports to a rise in Chinese oil demand and the expansion of Iran's oil tanker fleet.

Iran's newfound status as the fourth largest OPEC exporter marks a significant achievement for the country, which has been working to overcome economic sanctions imposed by the West.

News ID 768323


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