Graph and download economic data for Breakeven Fiscal Oil Price for Iran, Islamic Republic of (IRNPZPIOILBEGUSD) from 2000 to 2025 about Iran, REO, oil, government, and price.

The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of July. This would be lower than the 2024 average, which amounted to ***** U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2025 fall in prices was the result of weakened demand outlooks exacerbated by extensive U.S. trade tariffs.

Crude Oil Production in Iran decreased to 3245 BBL/D/1K in July from 3257 BBL/D/1K in June of 2025. This dataset provides the latest reported value for - Iran Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The 2025 preliminary average annual price of West Texas Intermediate crude oil reached 68.23 U.S. dollars per barrel as of June. This would be eight U.S. dollars below the 2024 average and the lowest annual average since 2021. WTI and other benchmarks WTI is a grade of crude oil also known as “Texas light sweet.” It is measured to have an API gravity of around 39.6 and specific gravity of about 0.83, which is considered “light” relative to other crude oils. This oil also contains roughly 0.24 percent sulfur, and is therefore named “sweet.” Crude oils are some of the most closely observed commodity prices in the world. WTI is the underlying commodity of the Chicago Mercantile Exchange’s oil futures contracts. The price of other crude oils, such as UK Brent crude oil, the OPEC crude oil basket, and Dubai Fateh oil, can be compared to that of WTI crude oil. Since 1976, the price of WTI crude oil has increased notably, rising from just 12.23 U.S. dollars per barrel in 1976 to a peak of 99.06 dollars per barrel in 2008. Geopolitical conflicts and their impact on oil prices The price of oil is controlled in part by limiting oil production. Prior to 1971, the Texas Railroad Commission controlled the price of oil by setting limits on production of U.S. oil. In 1971, the Texas Railroad Commission ceased limiting production, but OPEC, the Organization of Petroleum Exporting Countries with member states Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela among others, continued to do so. In 1972, due to geopolitical conflict, OPEC set an oil embargo and cut oil production, causing prices to quadruple by 1974. Oil prices rose again in 1979 and 1980 due to the Iranian revolution, and doubled between 1978 and 1981 as the Iran-Iraq War prevented oil production. A number of geopolitical conflicts and periods of increased production and consumption have influenced the price of oil since then.

Graph and download economic data for Oil Real GDP Growth in Constant Prices for Iran, Islamic Republic of (IRNNGDPORPCHPT) from 2000 to 2025 about Iran, REO, oil, real, GDP, and rate.

Iranian crude oil prices are influenced by global supply and demand dynamics, political tensions, economic sanctions, and regional conflicts, leading to significant volatility.

Graph and download economic data for Breakeven External Oil Price for Iran, Islamic Republic of (IRNPZPIOILBEBUSD) from 2000 to 2025 about Iran, REO, oil, and price.

Crude Oil fell to 61.97 USD/Bbl on September 5, 2025, down 2.38% from the previous day. Over the past month, Crude Oil's price has fallen 3.70%, and is down 8.42% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on September of 2025.

Gasoline Prices in Iran remained unchanged at 0.36 USD/Liter in August. This dataset provides - Iran Gasoline Prices- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Iran Crude Oil: Exports

• Iran Crude Oil: Exports was reported at 1,322.634 Barrel/Day th in Dec 2023
• This records an increase from the previous number of 900.632 Barrel/Day th for Dec 2022
• Iran Crude Oil: Exports data is updated yearly, averaging 2,122.500 Barrel/Day th from Dec 1980 to 2023, with 44 observations
• The data reached an all-time high of 2,684.100 Barrel/Day th in 2004 and a record low of 404.489 Barrel/Day th in 2020
• Iran Crude Oil: Exports data remains active status in CEIC and is reported by Organization of the Petroleum Exporting Countries
• The data is categorized under World Trend Plus’s Association: Energy Sector – Table RB.OPEC.CO: Crude Oil Exports

In 2023, shipments abroad of crude petroleum oil decreased by -28.8% to 32M tons for the first time since 2019, thus ending a three-year rising trend.

In July 2025, the average price of the OPEC basket was 70.97 U.S. dollars per barrel. This was an increase compared to the previous month, which was among the lowest values in the past 24 months. The OPEC basket is a weighted average of prices for petroleum blends produced by OPEC countries. OPEC stands for “Organization of the Petroleum Exporting Countries” and was founded in 1960 in Baghdad, Iraq. The main aim of OPEC is to coordinate the oil policies of its members, and thus to have more influence on the international oil market. It is used as an important benchmark for crude oil prices. The OPEC basket oil price The OPEC crude oil price is defined by the price of the so-called OPEC (reference) basket. This basket is an average of the prices of petroleum blends that are produced by the OPEC members. The following countries are members of this organization: Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. Some of these oil blends are, for example, the Saharan Blend from Algeria, Basra Light from Iraq, and Arab Light from Saudi Arabia. The OPEC reference basket includes both heavy and light crude oils and is heavier than most other crudes. OPEC's oil production amounted to 32.8 million barrels per day in 2024. Oil price benchmarks The OPEC basket is one of the most crucial benchmarks for crude oil pricing worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. Looking at the OPEC price within the last two years, the highest price was some 94.6 U.S. dollars per barrel in September 2023.

China Import Price: Crude Oil: Asia: Iran data was reported at 852.046 USD/Ton in Jun 2022. This records an increase from the previous number of 780.261 USD/Ton for May 2022. China Import Price: Crude Oil: Asia: Iran data is updated monthly, averaging 538.316 USD/Ton from Jan 2008 (Median) to Jun 2022, with 158 observations. The data reached an all-time high of 976.569 USD/Ton in Aug 2008 and a record low of 165.024 USD/Ton in May 2020. China Import Price: Crude Oil: Asia: Iran data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PH: Crude Oil Import and Export Price.

The size of the Iran Oil and Gas Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 3.40">> 3.40% during the forecast period. The oil and gas industry is a pillar in the economy of this country, providing the most significant part of revenue for the government as well as export earnings. Iran boasts the largest proven crude oil and natural gas reserves worldwide, thus putting the country in a good position to become an important player in global energy markets. The sectors of the industry are upstream, midstream, and downstream. The upstream consists of exploration and production, while midstream involves transportation and storage. But there are numerous challenges in this sector: old facilities, inefficiencies, and sanctions on international frontiers that restricted foreign investment as well as technology transfers. Iran takes a way through these issues by looking to breathe some life into its oil and gas sector. The administration aims to raise production capacities while refining technology toward both domestic consumption and export demands. The country is also involved in strategic partnerships with neighboring states and selected international firms that can enhance its oil and gas capabilities. The upward trend in global energy demand, especially in Asia, opens up the opportunity for Iran's reentry into the market. While such external influences are affecting the Iranian oil and gas sector, it has considerable assets and opportunities that may possibly aid growth and reintegrate this country into the world energy scenario. Recent developments include: In January 2022, the Lavan Refinery, in the south of Iran, announced the construction of a 150,000-barrel petro-refinery next to the Lavan Refinery and its efforts to increase the refinery's production by one million liters per day., In November 2021, Iran planned to invest USD 11 billion to raise gas production capacity by 240 million cubic meters/day in its offshore fields. Out of the total investment, USD 4 billion would be spent to develop the North Pars field, while others would be used to develop the offshore Kish gas field, Phase 11 of the South Pars field, and the onshore fields of the Iranian Central Oil Fields Company.. Key drivers for this market are: 4., Abundant Oil and Gas Reserves4.; Favorable Investment in Upstream Sector. Potential restraints include: 4., Volatility of Crude Oil Prices. Notable trends are: Upstream Segment to Dominate the Market.

The Iranian oil and gas downstream market, encompassing refineries and petrochemical plants, presents a dynamic landscape characterized by a Compound Annual Growth Rate (CAGR) exceeding 2.07% from 2019 to 2033. This growth is fueled by increasing domestic energy demand, strategic government investments in infrastructure upgrades and new projects, and a gradual expansion of petrochemical production to capitalize on Iran's substantial hydrocarbon reserves. Key players like the National Iranian Gas Company, Pars Oil Company, Iranol Oil Company, and the National Petrochemical Company are driving this expansion, focusing on modernizing existing refineries to enhance efficiency and output, and concurrently developing new petrochemical facilities. While sanctions and geopolitical uncertainties present challenges, the inherent potential of Iran's resources and the government's commitment to energy independence are key drivers pushing the market forward. The existing infrastructure, though aging in some sectors, forms a robust foundation for expansion, and the pipeline of projects signals a concerted effort to upgrade and expand capacity to meet future demand and potentially increase exports in a more favorable global climate. The segmentation into refineries and petrochemical plants allows for targeted investment and development strategies, fostering a diversified downstream sector. The market's growth trajectory is projected to be uneven, influenced by global oil prices, international relations, and domestic economic policies. While a consistent CAGR above 2.07% indicates positive growth, the actual yearly figures will likely fluctuate based on these external and internal factors. Further analysis is required to fully understand the nuanced impact of these factors on the market's performance across different segments. The strategic focus on both refinery upgrades and the development of new petrochemical plants suggests a long-term vision for a robust and diversified downstream sector, contributing significantly to Iran's economy. This strategic approach, combined with the nation's substantial hydrocarbon reserves, positions Iran for significant growth in the oil and gas downstream market, provided it can navigate geopolitical and economic challenges effectively. Notable trends are: Oil Refining to Witness Growth.

Oil prices have surged due to US threats of secondary tariffs on Russia and Iran, creating market uncertainty and geopolitical tension.

In June of 2024, the average price of petrol per liters in Iran stood at ****** Iranian Rial. The petrol price per liters in Iran has been stable at ****** Iranian Rial since the first half of 2020.

Iran Oil and Gas Market size was valued at USD 80 Billion in 2024 and is projected to reach USD 125 Billion by 2031, growing at a CAGR of 6.5% from 2024 to 2031.Iran's oil and gas market is poised for growth, driven by increasing natural gas pipeline capacity and rising demand for petroleum products. The expansion of oil and gas projects has significantly boosted production capacity, with the upstream segment expected to maintain its lead. Additionally, significant gas hydrate discoveries in the Persian Gulf present opportunities for enhanced natural gas production.Investments in the upstream and midstream oil and gas sectors are expected to drive market growth. However, the high volatility of crude oil prices poses a challenge to the market's stability.

The size of the Iran Oil and Gas Downstream Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 2.07">> 2.07% during the forecast period. The downstream oil and gas industry in Iran represents refining, distribution, and marketing of petroleum products. Although Iran hosts some of the largest reserves of crude oil and natural gas worldwide, the industry has faced huge challenges, including deterioration in infrastructure, economic sanctions, and lack of modernization. The amount of refining capacity is quite impressive with several major refineries that produce various products, including gasoline, through to petrochemicals. However, inefficiencies and outdated technology still limit the best production and environmental capability. Despite all these shortcomings, the government is more than keen to enhance its refining capacity within the country and reduce dependence on imported refined products. To this end, FDI attraction and technology transfer would be very crucial as international sanctions do not allow access to sophisticated facilities. The expansion and investment will also benefit from growing domestic demand for energy and petrochemicals. Iran has been competing to improve its petrochemical industry over the past years, exploiting natural gas reserves. The country aims to be a leader in the world market for petrochemicals. To conclude, despite the drawbacks, there are significant growth potentialities in the oil and gas downstream market of Iran, which are spurred both by internal needs and strategic efforts for the modernization of the country and investment. Key drivers for this market are: Abundant Oil and Gas Reserves4., Favorable Investment in Upstream Sector. Potential restraints include: Volatility of Crude Oil Prices. Notable trends are: Oil Refining to Witness Growth.

Breakeven Fiscal Oil Price for Iran, Islamic Republic of was 124.12354 US $ Per Barrel in January of 2025, according to the United States Federal Reserve. Historically, Breakeven Fiscal Oil Price for Iran, Islamic Republic of reached a record high of 227.95761 in January of 2020 and a record low of 13.24252 in January of 2000. Trading Economics provides the current actual value, an historical data chart and related indicators for Breakeven Fiscal Oil Price for Iran, Islamic Republic of - last updated from the United States Federal Reserve on September of 2025.