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Iranian oil exports increase after nuclear deal

Posted on 18 February 2014

Shaking off some of the restrictions of international sanctions, Iran managed to boost its oil exports by 100,000 barrels per day in January. According to the IEA, Iran was able to export 1.32 million barrels per day last month, with the increased flow going to China, Japan, and India.
To be sure, Iran used to export 2.5 million barrels per day before sanctions were implemented in 2012, but the interim nuclear deal with the United States and its western allies has breathed some life into Iran’s oil sector. It removes the requirement of buyers of Iranian crude to further reduce purchases in order to avoid penalties. The value of Iran’s exports at current prices is worth about $4 billion per month………………………………………..Full Article: Source


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