{"id":7812,"date":"2023-09-23T12:49:55","date_gmt":"2023-09-23T12:49:55","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=7812"},"modified":"2023-09-23T12:49:55","modified_gmt":"2023-09-23T12:49:55","slug":"oil-sectors-economic-growth-up-368-yoy-exports-account-for-over-24-of-irans-gdp-growth","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/7812\/","title":{"rendered":"Oil sector\u2019s economic growth up 368% YoY, exports account for over 24% of Iran\u2019s GDP growth"},"content":{"rendered":"<div class=\"entry-content\" itemprop=\"description\"><p><span class=\"pre-content-text\"><a style=\"color: #0038a8;\" href=\"https:\/\/roydadnaft.ir\/English\/\">RoydadNaft &#8211; <\/a><\/span>\u00a0The Iranian oil sector\u2019s economic growth rate jumped 368 percent year on year (YoY) in spring 2023.<\/p>\n<div class=\"item-body\">\n<div class=\"item-text\">\n<p dir=\"ltr\">The statistics showed the oil sector\u2019s economic growth rose to 16.4 percent in the first quarter of the current Iranian calendar year (starting March 21, 2023) from 3.5 percent in spring 2022.<\/p>\n<p dir=\"ltr\">The data released by the Central Bank of Iran (CBI) also indicated that the increase in oil production and exports accounts for more than 24 percent of the country\u2019s gross domestic product (GDP) growth in this year\u2019s spring.<\/p>\n<p dir=\"ltr\">Based on the CBI report, GDP including oil grew 6.2 percent and it stood at 5.2 percent excluding oil during the three months.<\/p>\n<p dir=\"ltr\">Iran has repeatedly announced in recent months that its oil output and exports have increased despite the U.S. sanctions.<\/p>\n<p dir=\"ltr\">The monthly reports of the Organization of the Petroleum Exporting countries (OPEC) confirm the rise in Iran\u2019s oil production and exports.<\/p>\n<p dir=\"ltr\">In its latest report, OPEC announced that Iran has regained its position as its third-largest crude oil producer.<\/p>\n<p dir=\"ltr\">Iran\u2019s oil production dropped due to sanctions in the previous administrations, lowering its OPEC rank to the fifth place.<\/p>\n<p dir=\"ltr\">But now, as recently announced by Oil Minister Javad Owji, Iran is not obliged to reduce its oil and gas condensate production and \u201cexports its crude oil wherever it wants\u201d.<\/p>\n<p dir=\"ltr\">According to him, Iran\u2019s oil output has now soared to 3.3 million barrels per day (bpd) from some 2.3m bpd recorded when the 13th (incumbent) administration took office, showing a 43 percent increase.<\/p>\n<\/div>\n<\/div>\n<div class=\"post-date no-social-btn post-updated\">Updated on<time class=\"updated dt-updated\" itemprop=\"dateModified\" datetime=\"2023-09-23T12:49:55+00:00\"> 23 September 2023<\/time><\/div><\/div>","protected":false},"excerpt":{"rendered":"The Iranian oil sector\u2019s economic growth rate jumped 368 percent year on year (YoY) in spring 2023.","protected":false},"author":1,"featured_media":7813,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[47,18,22,36,19,16],"tags":[],"services":[],"class_list":["post-7812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","category-headline","category-iran","category-lastnews","category-news","category-oil"],"_links":{"self":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/7812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/comments?post=7812"}],"version-history":[{"count":0,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/7812\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media\/7813"}],"wp:attachment":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media?parent=7812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/categories?post=7812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/tags?post=7812"},{"taxonomy":"services","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/services?post=7812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}