Iran's oil exports turn higher in May

LONDON - Iran's crude oil exports increased in May after a decline in April, according to sources who track tanker movements, moving above the level allowed by November's interim deal on curbing Tehran's nuclear program.


The increase, which appears to be led by higher sales to China in particular, could revive concerns in Washington that a softening of sanctions has given Tehran's economy a bigger boost than planned.


Iran's exports have averaged 1.38 million barrels per day (bpd) in May, one of the sources said. That represents an increase from 1.1 million bpd in April, as estimated by the Paris-based International Energy Agency. (Reuters)