2025 GMT: Oil Watch. Gholamreza Mesbahi Moqaddam, an influential member of Parliament's Economy Committee, has said the State budget for the next Iranian year may assume exports of only 1 million barrels of oil a day, less than half the level of 2011.
"Apparently, the government wants to decrease the 1392 (March 2013-March 2014) state budget's reliance on oil exports to one million barrels a day," Mesbahi Moqaddam said.
Industry data indicated that Iranian exports fell as low as 860,000 barrels per day this summer before rebounding in October to 1.3 million bpd. Last year the Islamic Republic shipped 2.2 million bpd.