ARKANSAS, Sept 30 (Future Headlines)- The Energy Information Administration (EIA) of the United States has recently released data that sheds light on Iran’s performance in the crude oil export market during the first five months of 2023. According to the EIA report, Iran has exported $19 billion worth of crude oil during this period.
The EIA’s report also offers insights into Iran’s standing within OPEC. Iran secured the fifth position among OPEC member countries in terms of oil exports during this period.
Examining the top performers within OPEC during the same period, Saudi Arabia emerged as the leader with the highest oil export income, reaching an impressive $101 billion. This demonstrates the significant role that Saudi Arabia continues to play in the global oil trade. Iraq and the United Arab Emirates (UAE) also displayed robust export performances, each recording $41 billion in oil export revenues. Kuwait secured the fourth position with $32 billion in oil exports.
To gain a more comprehensive understanding of Iran’s oil export trajectory, it’s essential to compare data from 2023 with that of the previous years. In 2022, Iran exported a substantial $54 billion worth of crude oil, marking a notable $17 billion increase compared to the prior year. Specifically, Iran’s crude oil exports amounted to $37 billion in 2021.
Writing by Sarah White