Oil minister Owji says Iran's crude exports will increase in the upcoming months despite US sanctions.

Latest OPEC figures show Iran’s oil output rose by 162,000 barrels or 6.7% last year compared to 2021.

Iran’s overall exports of crude oil, petroleum products, gas, condensates, liquids and LPG have reached 2.23 million barrels of crude oil per day, which is the same figure as before the sanctions, local media report.

Iranian oil exports reached sanction-era record highs of up to 1.23 million bpd in late 2022.

Iranian parliament’s research center expects the country will earn over $27 billion in oil income in 2023.

Russia warns that it will not disrupt its months-long military operation in Ukraine as as a Western-imposed price cap on the country’s oil exports enters into effect.

Iran sold 1.2 million bpd of oil in the first half of the calendar year that started late March.

The US Treasury imposes new round of sanctions on individuals and entities backing Iran’s oil sales.

Iran’s income from the export of oil and oil products rose by 11 times last year which ended in March and eight times in the five months of this year, government data showed. 

Minister of Petroleum Javad Owji says Iran’s crude oil and petrochemical exports continue without disruption.