Code: 448068 A

Iran's oil revenues have reached $29 billion in the first nine months of the current Iranian calendar year (started on March 21), according to a top official with the Petroleum Ministry.

Amir-Hossein Zamani Nia, the Deputy Petroleum Minister for International and Commercial affairs, said Iran's exports of oil and oil condensates have doubled in comparison to the figure before the implementation of the Joint Comprehensive Plan of Action (JCPOA).

In a November 30 meeting, OPEC member states agreed to cut production for the first time since 2008 in a bid to raise prices.

However, Iran was been exempted from the OPEC decision for cutting production so that the country can increase production to the level before the imposition of sanctions.

The OPEC agreement is expected to leave a positive effect on Iran's oil revenues.

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JCPOA Iran's oil oil revenues
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