Iran has seen an increase in the export of crude oil from March 21 to September 21, 2024, compared to the previous year. According to IRICA, a total of 28.1 million tons of petrochemicals were exported, bringing in $11.3 billion in revenue. This marks a 5% growth in weight and a 7% growth in value compared to the same period last year.
IRICA also reported that the National Development Fund of Iran (NDFI) and the government received a share of 20% and 65%, respectively, from the oil revenues. This demonstrates the country’s commitment to utilizing its oil resources for economic development and social welfare.
Iran’s success in increasing its oil exports reflects its resilience in the face of challenging global economic conditions. As the country continues to expand its presence in the global market, it is poised to strengthen its position as a key player in the oil industry.