Azernews.Az

by Alimat Aliyeva

Iran exported approximately 50 million barrels of oil within two weeks after the United States temporarily lifted restrictions on the country’s energy production and exports, AzerNEWS reports.

Revenue from these shipments is estimated at around $3.5 billion, meaning Iran’s average income from crude oil sales exceeded $233 million per day during this period.

The easing of restrictions was implemented under a memorandum of understanding signed between the United States and Iran on June 17. Following the agreement, the U.S. Treasury Department issued a 60-day license allowing Iran to produce and sell oil until August 21.

Analysts note that such short-term licensing arrangements can significantly affect global oil markets, particularly in periods of tight supply. Even a brief increase in Iranian exports can influence Brent crude prices and shift trade flows toward Asian markets, especially China and India, which remain key buyers of Iranian oil.

Interestingly, energy experts also point out that Iran’s ability to rapidly ramp up exports demonstrates how quickly global supply can react when sanctions are eased, highlighting the country’s strategic importance in stabilizing OPEC+ output levels.