\u201cIran\u2019s crude and condensate exports surpassed 2.8 million barrels per day (bpd) in December 2016,\u201d Amir Hossein Zamaninia said on Saturday.<\/p>\n

Iran exported nearly 2.6 million bpd during the first 9 months of the current year, he added.<\/p>\n

\u201cIn fact, Iran\u2019s crude and condensate exports have been doubled following the implementation of Joint Comprehensive Plan of Action (JCPOA),\u201d Zamaninia noted.<\/p>\n

$\"Iran$ <\/a>

Iran\u2019s crude and condensate exports surpassed 2.8 million bpd in December 2016 and exported nearly 2.6 million bpd during the first 9 months of the current Persian year.<\/strong><\/p><\/div>\n

In July 2015, Iran and the five permanent members of UN Security Council plus Germany clinched a deal following marathon talks.<\/p>\n

Under the international agreement which was implemented in January 2016, Tehran agreed to put curbs on its nuclear program in exchange for the removal of unilateral sanctions.<\/p>\n

In 2012, Iran\u2019s energy sector was hit by the US-led sanctions, reducing the country\u2019s crude exports from 2.5 million bpd to nearly 1 million barrels per day.<\/p>\n

As a result of the sanctions imposed by the United States and the European Union, Iran’s exports of crude oil and condensate dropped to their lowest level since 1986.<\/p>\n

The sanctions also negatively affected investment in Iran’s oil sector, cutting crude production sharply.<\/p>\n

$\"The$ <\/a><\/p>\n

OPEC output cut deal<\/strong><\/p>\n

The recent boost in Iran\u2019s oil sales comes against a backdrop of efforts by the Organization of the Petroleum Exporting Countries (OPEC<\/a><\/strong>) and other major crude exporters to contain global supply glut to prop up prices.<\/p>\n

Back in December, OPEC clinched a historic deal with Russia and other non-members to slash global production by nearly 1.8 million barrels a day for six months starting January.<\/p>\n

OPEC exempted key member Iran from cutting output, allowing the country to increase its crude production by 90,000 bpd to reach pre-sanction output levels of 4 million bpd.<\/p>\n

Iran’s Deputy Petroleum Minister for International Affairs and Trading Amir Hossein Zamaninia pointed to the recent deal and said Iran\u2019s oil revenues will further increase in a foreseeable future.<\/p>\n

Iran is now pumping 3.7 million barrels of crude oil per day in the post-sanctions era.<\/p>\n

Tehran seeks to regain its market share of pre-sanctions levels of 4 million bpd.<\/p>\n","protected":false},"excerpt":{"rendered":"