Oil Exports Unchanged

Oil Exports UnchangedOil Exports Unchanged

Iran exports 1 million cubic meters of oil per day on average, maintaining its annual crude output level, director of international affairs at the National Iranian Oil Company said.

Seyyed Mohsen Qamsari ruled out claims that Iran is selling less oil, stressing that it has kept its average export level at 1 mcm/d throughout the year, IRNA reported.

"Oil production, and consequently exports, could fall below the intended level in some days due to the overhaul of refineries, but the rise in output over the next months would make up for the deficit," he said.

China is the biggest importer of Iranian oil at 400,000 barrels per day, with India, South Korea, Japan and Turkey among major buyers of oil from the Persian Gulf country.

However, according to a Reuters' report, Iran's oil and gas condensate exports in September have fallen by 22%, edging closer to their lowest levels in six months.

According to Oil Minister Bijan Namdar Zanganeh, Iran plans to produce 3.8 million to 3.9 million barrels of oil per day by March, with output rising by 500,000 barrels a day soon after sanctions are lifted and by 1 million barrels within the following five months.

According to reports, Iran is producing 2.8 million barrels a day, its highest level in three years, and is exporting 1 million barrels per day.