Iran’s oil revenues hit $34 bn in 9-month period in 2023

Iran’s oil revenues in the first nine months of last year (January to September 2023) reached $34 billion, accounting for 12% of OPEC member states’ total oil income.

The International Energy Agency (IEA) in a report put Iran’s total oil revenues from January to September 2023 at $33.9 billion.

The oil revenues obtained by the Iranian government came while the country has been under the tough sanctions imposed by Western countries including the United States, the agency reported.

The $34 billion of Iran’s oil revenues obtained from January to September 2023 was two times the revenues obtained in 12 months in 2020.

According to the estimates of the US Department of Energy, Iran sold only $17 billion and $37 billion of crude oil in 2020 and 2021 respectively.

The report also put the total revenues obtained by the Iranian government as a result of oil sales in 2022 at over $54 billion.

The agency put the total oil revenues obtained by 13 OPEC member states from January to September 2023 at $281.2 billion.

News ID 196924

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