Iranian oil exports have risen to more than 1 million barrels per day for the first time in almost three years, based on estimates from companies that track the flows, reflecting increased shipments to China.
Tehran's oil exports have been limited since former U.S. President Donald Trump in 2018 exited a 2015 nuclear accord and reimposed sanctions aimed at curbing oil exports and the associated revenue to Iran's government.
Consulting firm Petro-Logistics, which tracks oil flows, said Iran's crude exports surged in December to more than 1 million bpd, the highest level in almost three years, although they fell back to about 700,000 bpd in January. A senior trade source said January volumes dropped by about 300,000 bpd from December and added that the volumes fluctuate because there is a shortage of ships.
Iran's oil and foreign ministries did not respond to a Reuters request for comment on the oil export levels.The "international community, including China, has been conducting normal cooperation with Iran under the global legal framework, which are both reasonable and legitimate. They deserve respect and safeguard," the spokesperson's office of China's Foreign Ministry said.
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