Iran’s oil revenue hits record in 3 months

Iran’s oil revenue hits record in 3 months

Iran’s oil exports hit a record high in the first three months of the current Iranian fiscal year (started March 21) ahead of re-imposition of new US sanctions on the country’s oil sales, Iran's government spokesman said.

Crude exports by OPEC’s third-biggest producer in the first three months of the current year totaled 2.55 million barrels a day at a fixed trading range of $71, Mohammad Baqer Nobakht said, Trend reported citing ISNA.

He added that the government had projected to sell 2.41 million barrels of oil a day at $55 per barrel in a draft budget bill for the year to March 2019.

Nobakht said oil revenue in the past 3 months had totaled $16 billion, showing a 74 percent rise compared to the same period last year.

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