TEHRAN - Iran exported $67 billion worth of oil in the Iranian calendar year 1403 (ended on March, 20, 2025), marking its highest oil revenue in the past decade, according to estimates by the Central Bank of Iran (CBI).

Data released by the CBI shows Iran’s oil exports have fluctuated significantly in recent years. In 1399 (March 2020–March 2021), exports had dropped to $23 billion amid intensified U.S. sanctions. Since then, Iran's oil revenues have steadily climbed:

• 1400 (March 2021–March 2022): $38 billion
• 1401 (March 2022–March 2023): $55 billion
• 1402 (March 2023–March 2024): $56 billion
• 1403 (March 2024–March 2025): $67 billion

The latest figure represents a sharp rebound and underscores Iran’s increased crude shipments despite ongoing international restrictions.

Iran’s oil production has been on an upward trend in recent months despite U.S. sanctions and geopolitical pressures. The country managed to increase its output steadily throughout 2024, adding more than 370,000 bpd compared to the previous year. The rise in production has been supported by the government's efforts to boost investment in upstream projects and secure alternative trade routes for its crude exports.

In addition to increasing output, Iran has been working to expand its oil sales, particularly to Asian markets, where demand remains strong. China continues to be a key buyer of Iranian crude, while other regional customers have also shown interest in maintaining supplies despite Western pressure.

The resilience of Iran’s oil industry has been evident even in the face of tightening restrictions. The country has utilized a mix of official and unofficial channels to sustain its exports, ensuring that oil revenue remains a crucial source of foreign exchange for the economy.

EF/MA