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Iran Crude Exports Grow by 66 Percent

Source: www.gulfoilandgas.com 6/11/2013, Location: Asia

With China increasing its purchases from the Islamic Republic, Iran exported 66 percent more crude oil in May than in April, , the International Energy Agency (IEA) says.

The Paris-based agency in its monthly oil report released that Iranian crude imports increased to the “relatively high” level of 1.39 million barrels a day in May from 835,000 barrels a day the previous month.

On the basis of the report, China imported 715,000 barrels a day of Iranian crude last month, which is almost double the 370,000 barrels it imported in April.

The IEA said that Iran’s crude output rose by 30,000 barrels a day in May to 2.68 million barrels a day.

Iranian Oil Minister Rostam Qasemi said that illegal US-engineered sanctions had not impacted the Islamic Republic’s crude oil production.

He also stated that the country’s crude oil exports had decreased slightly, but the small amount was being used for the production of oil products for export.

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