Iran announced that its crude oil and condensate exports reached 3.

05mb/d in the last Persian month, from which 2.

265mb/d consisted of crude oil alone, Mehr News Agency reported.

As stated on News Az, this is the first time Iran reaches this level of exports in the past six years. From 2012 to 2016, as a result of intensified sanctions on Tehran, the country was selling around 1mb/d of oil. Additionally, Iran only started exporting condensates after sanctions were lifted. Before that, the country was storing its barrels of condensate on water due to the sanctions applied on selling them out.

Furthermore, according to a statement released by the Iranian Minister of Petroleum, Bijan Zanganeh, as much as 700,000b/d from Iran’s total exports are currently destined to Europe – an amount 100,000b/d higher than the one recorded during pre-sanction years.

Zanganeh added that “the pace of growth in Iran’s crude oil production and exports has amazed international observers who did not think Iran could raise its [oil] production by 1mb/d within three to four months after the removal of sanctions.”