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Iran Holds Oil Exports at Lowest in More Than Decade, JODI Says

Iran exported crude in December and again in January at the lowest monthly level in more than a decade, according to data the country submitted to the Joint Organisations Data Initiative.

Iran shipped 1.28 million barrels a day in January, unchanged from December, according to figures it provided to the Riyadh-based group known as JODI. Shipments for each of the two months were the lowest, according to JODI, since January 2002, when the group’s member nations began submitting data. JODI posted the most recent data on its website late yesterday.

The figure for Iran’s exports in January is smaller than what the International Energy Agency reported on March 14. Iran’s customers imported 1.41 million barrels a day that month and again in February, according to the IEA, a Paris-based adviser to 28 industrialized nations including the U.S.

The U.S. and European Union have imposed sanctions on Iran, a member of the Organization of Petroleum Exporting Countries, to deter its nuclear program. The EU began boycotting Iranian crude in July 2012. The U.S. seeks to limit Iran’s exports to an average of 1 million barrels a day over a six-month period ending in July of this year.

The U.S. and EU are concerned that Iran may be developing atomic weapons technology, a charge the government in Tehran denies. Iranian diplomats convened today in Vienna with counterparts from six world powers for a second day of talks aimed at building on an interim nuclear accord.

JODI is supervised by the Riyadh-based International Energy Forum and compiles data provided by member governments. Iran stopped submitting data to JODI after the oil sanctions that took effect in July 2012. It resumed in January, supplying numbers dating back to May 2012.

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