Iran oil sales fall by 24 percent

Iran’s oil sales dropped by more than 24 percent to $59.5 billion in the 11 months ending February 2010, according to a report by Fars News Agency.

The figure showed a 24.3 point decline compared to the same period in the previous year, when Iran’s oil sales stood at $78.6 billion, the report said.

Non-oil exports, however, rose by 12.7 percent to $19 billion from $16.8 billion the year before, the report added.

Iran is the second largest oil producer in the Organization of Petroleum Exporting Countries (OPEC) and also holds the world’s second largest gas reserves.

Oil sales account for 80 percent of Iran’s annual income.

PressTV