Iran’s oil exports have hit a five-year high point

Iran’s oil exports remained robust throughout the first half of the year, averaging 1.3m barrels per day, data from US pressure group UANI shows. Amid reports of a deal with the US that could provide certain sanction relief, the IEA believes Iran could ramp up production from the five-year high of 3.01m bpd in June to 3.8m bpd. SEABORNE oil is being shipped from Iranian ports at a pace not seen since sanctions were reimposed by the Trump administration five years ago. After reaching a post-sanctions record of over 1.5m barrels per day in May, June was another strong month for Iranian oil, with exports surpassing at 1.4m bpd, preliminary figures from US pressure group United Against Nuclear Iran show.