Iran's Surge in Oil Exports Doesn't Mean Output Is on the Rise
- Release of crude from tanker storage last month fed shipments
- Volumes also freed up by refinery maintenance: Energy Aspects
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Iran is seeing bumper oil exports. But that doesn’t mean production is on a similar trend.
OPEC’s third-largest producer ramped up exports in April to the highest since sanctions were eased more than two years ago. The jump came just weeks before a U.S. decision on whether to pull out of the global deal that relaxed the restrictions, a move that would likely force Iran to cut hundreds of thousands of barrels a day.