Crude Oil
Iran’s Oil Exports Surge Beyond Budget Projections, Exceed 1.4 Million Barrels Per Day
Iran’s oil exports have surged beyond initial budget projections to over 1.4 million barrels per day, according to a statement by Davoud Manzour, the head of Iran’s state-run Plan and Budget Organization.
While precise figures detailing the extent of this export accomplishment were not disclosed, the news sends a strong signal of Iran’s capacity to adapt and thrive in the face of adversities.
Iranian crude exports have exceeded levels projected in the country’s budget for the year ending in March 2024, Davoud Manzour said, without providing exact figures.
Separately, Iran’s Oil Minister Javad Owji said the country’s daily oil production will rise by 110,000 barrels by August 22 to 3.3 million barrels, according to a report in the state-run Islamic Republic News Agency on Saturday.
The country’s ability to surpass the export targets outlined in its annual budget for the fiscal year ending in March 2024 demonstrates a significant stride forward.