BREAKING NEWS

Iran's oil exports fall in April, closer to Western limits

By REUTERS

APRIL 29, 2014 19:24

Iran's oil exports fell in April for a second month, according to sources who track tanker movements, moving closer to levels allowed by November's interim deal on curbing Tehran's nuclear program.

The decline may reflect seasonally lower crude oil demand and US pressure on some customers take less. Signs of higher Iranian sales since late 2013 have led to concern in Washington that a softening of sanctions has given Tehran's economy a boost.

"It looks like India has imported less in April - that could be due to a combination of more pressure from the United States and also lower crude demand at this time of year by Indian buyers," a tanker-tracking source said.

Iran's crude exports have averaged 1.1 million barrels per day (bpd) in April, said one of the sources, down from almost 1.3 million bpd in March. That would bring exports back down to the average 2013 level of Iranian imports.

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