Iran crude exports at 1.75mb/d

TEHRAN, Feb. 29 (Shana) — Iranian Minister of Petroleum Bijan Zangeneh said the country exported 1.75mb/d during the month of Bahman (11th month in Iranian calendar, January 21-February 19).

Following a meeting with visiting South Korean Minister of Trade, Industry and Energy Joo Hyung-hwan in Tehran, Zangeneh told reporters that “Iran’s export of crude oil and gas condensates stood at 1.75 million barrels/day in the month of Bahman,” up 400,000b/d year-on-year.

The development comes amid rising hope for an economic boom in a ban-free Iran.

Before sanctions’ removal, Iran repeatedly said it would raise at least half a million b/d to its crude oil exports after sanctions removal and add another million to the exports within the next 6 months.