Iran is an energy superpower in the world. Petroleum products play a major role in the energy sector of the country. The Ministry of Petroleum(MOP) manages the oil industry that produces oil and petrochemical products. The exploration, extraction, and distribution of petroleum products are controlled by the Ministry of Petroleum (MOP). The import and export licenses of petroleum products are also governed by the Ministry of Petroleum. Iran earns 80% of its foreign currency earnings by exporting petroleum products. The fourth Economic Social and Cultural Plan of the Government states that at least 10 % of the activities related to exploration, extraction, and production of crude oil to the private sector by retaining the ownership.
In 2010 Iran was the second largest exporter among the Organisation of Petroleum exporting countries. The volume of exports was 2.6 billion of crude every day. Income from the oil source accounts for 80% of Iran’s foreign currency reserves and 60% of the overall budget of the country. The export quantity of Iran amounts to more than 844 million barrels of oil in the year to 21 March 2010. The average export quantity amounted to an average of 2.3 billion barrels per day. The amount of light crude is almost 259 barrels and heavy crude is almost 473 million barrels. Major emerging economies like South Korea(10%), India(9%), and China(6%) depend on Iranian oil. Iranian Oil is also imported by Japan(7%), Greece(30%), Spain, and Italy.
Crude Oil Exports chart From 2013 -2023
| Year | Revenue |
| 2013 | 1215.410 |
| 2014 | 1109.175 |
| 2015 | 1081.145 |
| 2016 | 1921.730 |
| 2017 | 2125 |
| 2018 | 1849.612 |
| 2019 | 651.131 |
| 2020 | 404.489 |
| 2021 | 762.779 |
| 2022 | 900.62 |
| 2023 | 1322.634 |
Key Information Iran Crude Oil: Exports
- The data is available in the World Trend Plus Association: Energy Sector table RB.OPEC.CO: Crude oil Exports.
- The data is active in the CEIC and it is reported by the Organisation of Petroleum Exporting Countries.
- An all-time high of 2684.100 barrels was reached in 2004 and an all-time low of 404.489 per barrel in 2020.
- The average price per barrel of crude oil is estimated at 2122.500 barrels per day.
- In December 2023 the exports were reported at 1322.634 barrels per day.
- It shows an increase from the previous number of 900.632 barrels per day.
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