Free Trial

US Sanctions Successfully Bring Down Iran’s Oil Exports: Hochstein


Iran is under extreme sanctions by the US which is significantly bringing down Iran’s oil exports, Amos Hochstein, the US Energy Security Advisor said to Bloomberg.

  • “If we weren’t enforcing sanctions on Iranian oil, Iran today would be back to where they were before sanctions which is at around 2.5-3mbpd”, Hochstein said.
  • “They [Iran] have an enormous amount of reserves and resources. And the reason that they are not doing that is they are under sanctions. Sometimes we are able to bring down their exports 1-1.1mbpd, sometimes it goes to 1.4mbpd like it is right now, so those are a bit seasonal. But by a large they are under extreme sanctions“, he added.
  • Vortexa data showed Iran’s crude and condensate exports averaged 1.4mbpd in 2023.
  • The Iranian Oil Ministry claims crude output is at 3.4mbpd with plans to rech 3.8mbpd in the next Persian calendar year.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.