Iran's Oil Exports Surge by 50% in 2023
- Product
- Crude Oil
- Message Category
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In 2023, Iran witnessed a remarkable surge in its oil export shipments, averaging 1.3 million barrels per day. This figure represents a substantial increase of nearly 50% compared to the previous year and marks the highest export rate in the past five years.
Kpler reports that China emerges as the primary recipient of Iran's oil exports, while other consumer nations contribute only minimally to the total export volume.
According to the International Energy Agency (IEA), Iran's overall crude oil production for the year reached 2.99 million barrels per day, indicating an increment of 0.44 million barrels per day from the preceding year.
These statistics corroborate earlier media speculations and official statements from the Iranian government, highlighting a significant upsurge in both oil production and exports throughout 2023, despite the enduring constraints of stringent US sanctions.
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