3 days ago
Iran's non-oil exports exceed $11 bn in second quarter of 2025
QNA & Agencies
Tehran
According to Iranian Customs Administration's (IRICA) figures, Iran's non-oil exports in the second quarter of 2025 reached 34.347 million tonnes, with a total value of $11.655 billion. In a statement issued on Saturday, IRICA announced that Iran's imports during the same period amounted to 9.013 million tons, with a total value of $13.029 billion.
According to reports, China is the top importer of Iranian goods, with imports exceeding $3.511 billion, followed by Iraq at $1.905 billion, and the United Arab Emirates at $1.592 billion.
Turkiye's Iranian imports stood at a value of about $937 million, while those headed to Afghanistan amounted to $510 million.
Meanwhile, the International Energy Agency said on Friday that the world oil market may be tighter than it appears despite a supply and demand balance pointing to a surplus as refineries ramp up processing to meet summer travel demand.
The IEA, which advises industrialised countries, expects global supply to rise by 2.1 million barrels per day this year, up 300,000 bpd from the previous forecast. World demand will rise by just 700,000 bpd, it said, implying a sizeable surplus.
Despite making those changes, the IEA said rising refinery processing rates to meet summer travel and power-generation demand were tightening the market and the latest, accelerated supply hike from OPEC+ on Saturday had not had much effect.
'The decision by OPEC+ to further accelerate the unwinding of production cuts failed to move markets in a meaningful way given tighter fundamentals,' the agency said in a monthly report.
'Price indicators also point to a tighter physical oil market than suggested by the hefty surplus in our balances.'
The comments strike a similar tone to the message earlier this week from ministers and executives of OPEC nations and bosses of Western oil majors. The output increases are not leading to higher inventories, which shows markets are thirsty for more oil, they said.
