Iran's July oil exports up 45,000 bpd on month

August 1, 2017

TEHRAN – Iranian crude oil exports rose by 45,000 barrels per day in July compared to the preceding month, Shana reported on Tuesday, citing a report by Oil Ministry.

The report did not reveal the exact volume of exports but said “The country sent over 2.2 million bpd of crude oil to European and Asian buyers in July.”

Shipments to the Asian buyers including China, South Korea, India and Japan stood at 1.3 million bpd, it added.

Earlier, Oil Ministry’s website reported that Iran’s oil exports to Europe and Asia stood at 2.15 million bpd in June.

According to the report, cited by IRNA, Iran’s oil exports hovered around 2.1 million bpd on average since the beginning of 2017 of which near 1 million barrels were sent to the European markets.

After the implementation of the nuclear accord (called JCPOA) in January 2016, Iran has been seeking to expand its target markets. Since then, oil exports to Europe has risen by more than 300 percent.

The country is currently producing around 4 million bpd of oil.



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