Iran exported over 2.2 million b/d of crude oil to Asian and European markets in July, MEHR reports.

Overall exports rose by 45,000 b/d in comparison to June, the Iranian Oil Ministry announced.

The Iran’s crude-oil exports to Asian markets reached 1.4 million b/d, an increase of 100,000 b/d (7.7%). China, South Korea, India, and Japan purchase significant amounts of Iranian crude.

Iran’s crude-oil production has climbed to 4 million b/d. The country’s heavy crude oil is selling at $45.12 per barrel, an increase of $1.56 (3.6%). The price of its light crude oil rose to $46.90 per barrel, an increase of $1.12 (2.4%). Iran’s light crude oil has traded at an average of $48.77 so far in 2017.

 

Iran’s oil exports began after the implementation of the Joint Comprehensive Plan of Action (JCPOA). Before the removal of sanctions, Iran exported 1 million b/d.