Based in London, Vortexa which pursues oil and gas flows across the globe, published the news announcing Iran’s crude/condensate exports accounted for 9 percent of OPEC’s crude/condensate exports in February 2024 and again in May 2024, the highest share since August 2018.
According to the website, rising crude exports mean Iran has overtaken Kuwait and Nigeria to be the fourth largest crude/condensate exporter in OPEC.
“Iran’s crude exports averaged 1.56 mbd across January/May this year, around 250kbd higher than both Kuwait and Nigeria.” The website announced.
According to Vortexa, “Despite ongoing sanctions, Iran managed to increase its crude/condensate exports to 1.7mbd in May, the highest levels observed in more than five years.”
Referring to the reasons behind Iran’s success, the website announced that an increase in Iran’s crude production, higher demand from China, and a net increase in the size of its dark fleet, have helped the country to increase its exports.
SHANA