Iran has produced record oil levels, reaching between 3.2 and 4 million bpd in 2024, despite U.S. sanctions. The recent U.S. military intervention in Venezuela raises concerns about the future of Iran's oil exports and trade relationships, particularly with China, which buys around 90% of Iran's oil. Geopolitical uncertainty may affect China's reliance on Iranian crude in the coming months.
Sign in to access complete coverage, AI analysis, and related companies.
Sign In to Continue