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Two-fold increase in post-JCPOA oil export

Iran's crude oil exports jumped from 1.130 million barrels per day in 2012 to 2.150 million bpd in2017 following a nuclear deal Iran signed with world powers in 2015.

Two-fold increase in post-JCPOA oil export
(Tuesday, May 29, 2018) 09:11
The nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) was inked in Vienna on June 14, 2015 by representatives of the Islamic Republic of Iran, European Union and G5+1 consisting of Britain, France, Russia, China and Germany.

Since the JCPOA went into effect, Iranian authorities have time and again complained about the obstacles thrown by other parties to the deal particularly the US on the way of Iran's financial and trade relations.

Donald Trump who took office as the president of the United States on January 20, 2017, announced
his country's withdrawal from the deal on May 8, 2018.

According to a Saturday's report posted on the website of the Petroleum Ministry, cited the surge in oil exports ass one the important achievements made by Iran in the post-JCPOA era.

With the implementation of the Iran Deal, Iranian oil exports began to climb to reach 2.090 million bpd in 2016 and then to 2.150 million bpd in 2017.

In March this year, National Iranian Oil Company managed to set a new record of oil exports by registering 2.617 million bpd.

Asian countries and traditional customers of Iranian crude oil including China, India, South Korea and Japan bought over 60 percent of the county's total oil output in April this year.

European oil majors such as Total, Shell, Eni, Hellenic Petroleum and Saras received the remaining 40 percent of Iranian crude oil in April.

The average price of Iranian light crude in the week to May 18 increased by two dollars and 81 cents to stand at 76 dollars and 60 cent.
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