Iran Earning $139 Million A Day From Oil Amid Hormuz Crisis: Report
Iran has earned approximately $139 million per day from oil sales in March, benefiting from a surge in crude prices. The country's oil exports have remained close to pre-war levels, with about 1.6 million barrels sold daily, despite the ongoing conflict.
Iran's oil sales have generated significant revenue for the country. Its main crude blend, Iranian Light, is selling at a slim discount to international benchmark Brent. Iran's exports have continued uninterrupted, with ships loading crude at the Kharg Island terminal and exiting through the Strait of Hormuz. The country's oil infrastructure has been spared from military attacks, allowing it to maintain production. Iran's daily oil revenue has increased to $139 million in March, up from $115 million in February. The higher selling price is crucial for Iran, which needs to rebuild and support its economy after suffering damage from airstrikes.
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