Iran Recalibrates Oil Exports To Align With Global Market Shifts - Minister

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 14.​ Iran has made necessary adjustments to its crude oil exports in response to changing conditions, said the country's Oil Minister, Mohsen Paknejad, Trend reports.

Speaking to reporters following a Cabinet meeting in Tehran, Paknejad highlighted that Iran has developed appropriate plans for oil sales, taking into account the sanctions imposed on the country. He added that the repeated maximum pressure policy by the U.S. had proven to be an unsuccessful strategy.

Although Paknejad did not give specific details about oil exports, he emphasized the country's strategy to deal with the problems caused by the sanctions.

According to OPEC's report, Iran's crude oil production in March 2025 was recorded at 3.33 million (3,335,000) barrels per day, showing a 12,000-barrel increase compared to February's figures.

A total of 74 oil fields and 22 gas fields are currently operating in Iran. There are 37 oil fields in the territory of the National Company of Iran's Southern Oil Zones, 14 in the territory of the Iranian Central Oil Zones Company, five in the territory of the Arvandan Oil and Gas Production Company, and 18 in the territory of the Offshore Oil Company. Additionally, the South Oil Zones National Company of Iran operates five gas fields, the Central Oil Zones Company operates 13, the Pars Oil and Gas Company operates one, and the Offshore Oil Company operates three.

Iran's total hydrocarbon reserves are 1.2 trillion barrels. Iran can produce 340 billion barrels of this gas with existing technological equipment. Iran can use about 30 percent, while 70 percent remains unused underground.

The US imposed new sanctions against Iran in November 2018 over Iran's nuclear program. Since then, the sanctions have affected Iranian oil exports and more than 700 banks, companies, and individuals.

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