Iran predicts less oil export than before sanctions
While Iran’s oil and gas condensate export reached 3.05 million barrels per day (mb/d) in the 12th month of the last Iranian fiscal year (Feb.22 to Mar.21), the country eyes the the export volume for the current fiscal year to be at 2.4 mb/d in average. This would be less than 2.5 mb/d of pre-sanctions level. Iran was exporting 2.2 mb/d of crude oil as well as 300,000 b/d of gas condensate in 2011, but after the sanctions, Iran’s total oil and gas export decreased to 1.2 mb/d. After the removal of sanctions in January 2016, Iran increased the oil export gradually, up to about 3 mb/d in March, thanking to selling tens of million barrels of stored oil on water, according the Oil Ministry’s announcement. Iran's Oil Minister Bijan Namdar Zanganeh said on Apr.5 that for the current fiscal year, started on March 21, Iran plans to export 2.4 m/b of crude oil and gas condensate together, IRNA reported. It seems, a part of Iran’s oil export growth during last months has relied on selling