Iran Surpasses Budget Forecast by $11 Billion with Oil Sales During War and Ceasefire

In a significant development, Iranian Oil Minister Mohsen Paknejad revealed that Iran sold $11.5 billion worth of oil during the war and an additional $6.5 billion during the ceasefire. This remarkable feat generated more than 60% of the oil revenue forecast in Iran's annual budget.

The sales were made possible due to lower risks to tanker traffic, which allowed for increased exports and enabled the sale of part of around 100 million barrels of stored crude oil and gas condensate.

An estimated 70 million barrels of oil worth $5 billion to $6 billion were exported during the month-long suspension of the US blockade. This quickly rebuilt a financial buffer before restrictions returned.