Iran Oil Production Hits 46-Year High Despite U.S. Sanctions

The Iranian energy sector remained largely unscathed following a 12-day war involving airstrikes by Israel and the United States. While Israel damaged a small number of petroleum assets, the facilities were quickly repaired. The White House reportedly intervened during the conflict to prevent further escalation into the energy sector.

Despite ongoing U.S. sanctions, Donald Trump maintained that sanctions remain active but indicated a willingness to remove them if Iran remains peaceful and demonstrates it will not cause further harm.

Iran's oil production reached a 46-year high in 2024, with energy export revenues hitting a 12-year high of $78 billion. This growth was supported by the Islamic Revolutionary Guards Corps Research and Self-Sufficiency Jihad Organization, which managed the construction of installations for processing natural gas liquids and condensates. Iran also established a sanctions-proof supply chain with China, which now purchases 90% of the country's oil exports.