Iran has reportedly found new buyers for the crude oil it produces, as cargoes were recently spotted moving to Oman and Bangladesh, Reuters reported citing sources and evidence.

Iran’s crude oil production has recently reached at the highest levels since 2018as part of Tehran’s quest to increase its production and exports, and by extension, its revenue, despite US sanctions.

Earlier this year, tankers were sighted and located close to ports of Bangladesh and Omanaccording to the data cited by Reuters.

Last month, Iran’s oil minister, Javad Owji, claimed that Tehran exports its oil to 17 countries.

It is noted that in July, Iran’s crude oil production amounted to 3.22 million barrels per dayaccording to Reuters’ monthly analysis.

In addition, Javad Owji noted that last month Iran managed to eliminate the effects of – under the US – Western sanctions on natural gas condensate exports. Iran has converted natural gas condensate (very light oil) in added value by exporting more than that, according to the Iranian minister.

The outgoing government also managed to increase oil production by 60%-from 2.2 million barrels per day production in 2021, when he took office-, to 3.6 million barrels today, Owji argued. He added that at the same time, Iran has boosted oil revenues to $28.4 billion annually from $9 billion in 2020.

Based on recent data it appears that Tehran has boosted oil exports to six-year highshaving increased its production by 20% in the last Iranian year, compared to the previous one, the oil minister said in May.

Also in May, the country’s state news agency Tasnim reported that Iran plans to increase crude oil production to 4 million barrels per day.