# Iran's recession is driving growth slowdown in oil exporters: IMF

> The IMF's 2019 Regional Economic Outlook projects a 1.7% contraction in output for non-GCC oil exporters, driven mainly by a deepening recession in Iran. Iran's economy is expected to shrink about 6% this year, with inflation possibly reaching 40% or more. The report links the damage to U.S. sanctions that were re-imposed after the 2015 nuclear deal was abandoned.

- Date: 2019-04-29 · published 2019-04-29T12:00:00.000Z
- Category: report · region Middle East · magnitude low
- Page: https://feedsoft.ai/events/59751-iran-s-recession-is-driving-growth-slowdown-in-oil-exporters-imf
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Sanctions-driven recession in Iran and weaker growth among regional oil exporters reduce regional demand and currency stability, but the direct effect on crude supply is limited. The report adds to the sanctions backdrop that supports oil prices.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-02-15 | [Oil demand growth slowing as non-OPEC supply expands, says IEA \| Reuters](https://feedsoft.ai/events/31840-oil-demand-growth-slowing-as-non-opec-supply-expands-says-iea-reuters.md) | +3.1% | +6.4% |
| WTI | 2025-05-14 | [OPEC expects slower 2025 oil supply growth from rivals after price drop](https://feedsoft.ai/events/24854-opec-expects-slower-2025-oil-supply-growth-from-rivals-after-price-drop.md) | -1.7% | +6.3% |
| WTI | 2018-01-19 | [IEA Sees ‘Explosive’ Growth in U.S. Oil Output as Prices Rally - Bloomberg](https://feedsoft.ai/events/67147-iea-sees-explosive-growth-in-u-s-oil-output-as-prices-rally-bloomberg.md) | +2.5% | -3.9% |
| WTI | 2017-06-14 | [IEA: Oil supply growth to outpace rise in consumption in 2018](https://feedsoft.ai/events/70397-iea-oil-supply-growth-to-outpace-rise-in-consumption-in-2018.md) | -6.7% | -2.0% |
| WTI | 2016-11-01 | [Oil ends down but off lows, then slides on API report](https://feedsoft.ai/events/74005-oil-ends-down-but-off-lows-then-slides-on-api-report.md) | -4.2% | -3.4% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/04/29/irans-recession-is-driving-growth-slowdown-in-oil-exporters-imf.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.