BREAKING NEWS

Iran oil exports to South Korea rise after sanctions lifted

By REUTERS

MAY 1, 2016 10:40

DUBAI - Iran's oil exports to South Korea have more than quadrupled to 400,000 barrels a day since international sanctions were lifted in January, Oil Minister Bijan Zanganeh was quoted as saying on Sunday by the Shana news agency.

Iran, whose exports to South Korea were less than 100,000 barrels a day before sanctions were lifted, has since worked to quickly boost its output. It has focused on selling to its traditional customers in Asia, but has also shipped cargoes to Europe.

According to data from Energy Aspects, global imports of Iran's crude rose in March to 1.90 million bpd, from 1.51 million bpd in February.

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