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Iran’s oil exports to rise more than 20% in Jan and Feb

by ChemOrbis Editorial Team -
  • 01/02/2016 (15:36)
According to media sources, preliminary data for tanker loading schedules from Iran showed that the country’s crude exports are set to increase more than 20% in January and February compared with last year’s daily average, which indicates that the country has begun raising its output following the removal of sanctions.

Iran’s exports are estimated to reach 1.5 million barrels per day (bpd) in January and 1.44 million bpd in February. The February figure, up 20% from last year, will be the highest since the same month of 2014, leading to an oil surplus of about 1 million bpd, according to analysts.

Data shows that India is expected receive more than 300,000 bpd of Iranian crude oil in February, up 66% from January while Iran is planning to load 504,000 bpd for China, down 5% from the previous month. Meanwhile, February exports to Asia are set to reach 1.24 million bpd in January and 1.20 million bpd in February.
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