- Iranians holding Ashura mourning for Imam Hussein
- Third step: Iran officially informs EU of plan to expand nuclear R&D
- Iran expands nuclear R&D program: Rouhani
- Iran goes ahead in space tech, despite US sanctions: ISA
- Resistance Front undermining Israeli regime power: Top commander
- Iran: 7 crew members of detained UK ship freed
- US addiction to sanction threaten its power: Iran’s Zarif
- Dutch role in 2007 Stuxnet attack on Iran’s nuclear site under scrutiny: Iraian FM Spox.
- Iran: ‘Sustainable Security 2019’ kicks off in Caspian Sea
- Iran’s Zarif leaves Tehran for Moscow
- Shiraz University ranked 1st in liver transplantation: Iranian health official
- Japan’s Abe to meet Iran’s president to discuss easing tension in region
- Downing of US spy drone shattered war threats against Iran: Top IRGC commander
- IAEO head reports development of first ion-therapy hospital in west of Asia
- Iranian Taekwondo team wins 2019 World Cup championship
- US sanctions failed to force Iran to buckle: Report
- Crew fixing Iran oil tanker broken down in Red Sea
- As Iranians hold nerves, US seeks to scare off trade
- Leader expresses concern about Kashmir, urges India to follow fair policy toward Muslim-majority region
- Iran saffron exports down due to smuggling, government restrictions: Exporter
- Iran FM warns US against ‘serious miscalculation’ in Persian Gulf
- Iran’s resistance policy led to release of oil tanker: MP
- Iran in reverse brain drain as top students come home in rising numbers
- Iran official calls for compensation for tanker seizure
- Iran hails N Korea for standing against ‘unilateral’ US demands
- Shia Muslims celebrate Eid Al-Ghadir
- North Korea praises Iran’s anti-US struggle
- Zarif says to meet French president Friday
- Iranian court hearing case of UK oil tanker
- Over half of Japanese voters oppose joining US-led anti-Iran coalition in Persian Gulf: Poll
- IME trade ups by 21 percent in July
- Finland backs INSTEX in defiance of US
- US anti-Iran policy in high seas harms Europeans: LA Times
- Iran, China confer on Syria
- Iran, Finland share views on Persian Gulf dialogue forum: Zarif
- Iran warns US against seizure of oil tanker
- Iraq eager to benefit from Iranian Police’s experience
- Iran planning 3rd step to reduce nuclear commitments: Spokesman
- Leader grants clemency to over 1,000 Iranian inmates
- Registration for Arbaeen Pilgrimage to begin in Iran on Friday
- Iran, Iraq agree to reopen Khosravi border crossing
- Iran deplores suicide attack at Kabul wedding hall
- Iran to hold int'l hand-woven carpets expo
- Zarif meets with Iran-Kuwait Friendship Group members
- Adrian Darya oil tanker not under any sanctions, says Iran envoy
- ‘Iran to stay in nuclear deal as long as its interests are met’
- India envoy happy with positive trend of trade with Iran
- Iran’s annual export of white meat tops 2.5m tons: Minister
- Iranian scientist discovers new state of matter
- Iran, Japan diplomats discuss bilateral ties
- Iran, Ansarullah, European representatives Yemen developments
- ‘Iran to become self-sufficient in producing aircraft engines'
- US issues seizure warrant for Iranian supertanker 'Grace 1'
- Neanderthal tooth unearthed near Iran’s Zagros mountain
- Iran’s Zarif due in Kuwait on Saturday
- US faces humiliating defeat after Gibraltar releases Iranian tanker: Envoy
- Spokesman rejects claim on Iran’s commitment in exchange for tanker release
- Zarif reacts to release of Iranian tanker in Gibraltar
- Israel, UAE engaged in secret talks on Iran arranged by US: Report
- US threatens visa ban as Iranian-operated tanker sets to sail from Gibraltar
- Enemies must factor Iran's global power in their calculations: IRGC's chief commander
- Trump’s administration conflicting messages to Iran baffle go-betweens: Report
- Gibraltar releases Iran-operated tanker despite US pressure
TEHRAN, October 04 - A senior Iranian official says the recent rise in oil prices has offset the impact of US sanctions on Iran’s oil exports, with the country’s oil revenues up 16 percent in the past six months.
TEHRAN, Young Journalists Club (YJC) - US President Donald Trump has pledged to squeeze Iran’s oil exports down to a trickle, pushing oil prices to levels not seen since 2014.
“Trump thought he could shrink our country’s oil revenues by imposing sanctions on Iran’s oil and cutting its exports, but the rise in oil prices did not let that happen,” Mohammad Baqer Nobakht, the head of Iran’s Planning and Budget Organization, said Thursday.
He said the budget for the current fiscal year has been drawn up on the basis of oil at $55 a barrel, but the country's sales have averaged $70 a barrel so far.
The government also expected to sell 2.4 million barrels per day of oil during the current Iranian calendar year which started in mid-March, but it exported 2.5 barrels in reality, he said.
Oil prices remain at four-year highs on rising doubts about the capability of Saudi Arabia and other producers to substitute Iran’s crude after the US imposes new sanctions on the country on November 4.
Earlier on Wednesday, Iranian First Vice-President Es’haq Jahangiri told a parliamentary session that “despite the mischief of the Americans, Iran’s oil exports have surpassed state budget outlay projections.”
“Notwithstanding all the pressures that the Americans are creating on the oil issue, Iran has its own oil customers, and the work is going on in a way that no problems will arise,” he said.
International benchmark Brent crude was up 38 cents at $85.18 a barrel on Wednesday, after hitting its highest level since November 2004 on Monday at $85.45.
The US is about to impose new sanctions on Iran's oil sector on Nov. 4, with the White House saying Saudi King Salman had promised Trump that the kingdom had enough spare capacity to replace Iranian barrels.
However, Iran’s OPEC Governor Hossein Kazempour Ardabili says the US president has apparently been duped by Saudi Arabia.
Iranian Minister of Petroleum Bijan Zangeneh said on Tuesday Iran will go full-throttle to maintain its market share as he blamed Trump for the surge in oil prices.
“The US is doing all it can to prevent us from producing and supplying oil to the market, but Iran is producing its crude oil with force,” he said.
“Mr. Tramp has said OPEC is responsible for rising oil prices and has to raise production, but one must say that OPEC is not responsible, but the Trump himself is responsible for the rise,” Zanganeh added.
Source: Press TV
Your Comment