Iran’s oil minister: Crude sales remain strong, revenue to aid industry repairs

Despite the pressures of ongoing conflict, Iran's oil sector demonstrates remarkable resilience. Oil Minister Mohsen Paknejad announced that oil sales have been favorable in recent weeks, a crucial development that will see a portion of the revenue directed towards repairing damage sustained by the industry due to wartime attacks.

Paknejad highlighted the dedication of Iran's oil workers, who have successfully maintained operations across all facilities. This commitment ensured that oil exports were not halted, even for a single day, including at vital export terminals such as Kharg Island. This continuous flow of oil underscores the sector's operational integrity under challenging circumstances.

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oil workers had maintained operations across facilities during the conflict, ensuring oil exports were not halted “even for a single day,” including at key export hubs such as Kharg Island.

Furthermore, the minister noted a significant increase in the selling price of Iranian crude oil last month. This price surge, coupled with sustained sales volume, suggests a robust revenue stream that will be instrumental in funding the necessary repairs and maintaining the industry's capacity amidst regional hostilities.

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The minister said last month that the selling price of Iranian crude had significantly increased.