Iran’s oil export ups 20% in early 2016

Iran’s oil export ups 20% in early 2016

Iran’s oil export ups 20% in early 2016

 

 
Iran’s oil ministry approved the report published by Reuters on Thursday that the loading data show a 20% increase in Iran’s oil export in the first two months of 2016 vis-à-vis last year's daily average.
 
The news agency had referred to “a source with knowledge of loading schedules” as the source of its news.
 
The report attributes the surge to the removal of sanctions; an event of mid-January as the deal made between Iran and 5+1 known as the Joint Comprehensive Plan of Action (JCPOA) was put into practice.
 
After the announcement of the Iran-Sextet deal on July 14 in Vienna, Iranian Oil Minister Bijan Namdar Zanganeh had promised to reclaim the country’s share of global crude oil exports within months of sanctions being lifted.
 
He had said that Iran was capable of resuming the volume of oil exports it used to have in pre-sanctions years only a few months after the removal of them.
 

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