Iran’s Oil Exports Turn Higher In May

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Though higher exports since late 2013 have bolstered Iran's coffers, officials in U.S. President Barack Obama's administration have said they expect Iran's oil sales to fall in the coming months and average 1 million bpd over the entire six-month period under the agreed deal known as the Joint Plan of Action (JPOA).

“More Iranian crude appears to be finding its way into markets in violation of the Joint Plan of Action despite the Obama administration's commitment to Congress that it would keep a tight control over the oil lifeblood of the Iranian economy,” said Mark Dubowitz, of U.S.-based independent think-tank Foundation for Defense of Democracies.

“If this continues, it would be a clear violation of Iran's obligations under the JPOA, which binds Tehran to both nuclear and sanctions-related commitments.”

There is no generally accepted figure for the oil exports of many producers, including Iran. Information takes time to filter out from opaque oil and shipping markets. Consumer countries, meanwhile, detail imports with a time lag or not at all.

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