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Oil Exports Continue to Decline in Iran

Iran’s oil exports declined in April for the second consecutive month, the International Energy Agency reported Thursday, moving much closer to levels permitted under a temporary accord on the Iranian nuclear dispute that is set to expire in July. Monthly data compiled by the energy agency, a 29-member group of oil importers, showed that Iran’s exports were 1.11 million barrels a day in April, down from 1.29 million barrels a day in March and 1.58 million barrels a day in February. The temporary accord specified that Iran’s monthly oil exports are not to exceed one million barrels a day on average for the six-month duration, and the excesses raised concern among critics of the accord that Iran was violating its terms. Obama administration officials have said they believe that Iran’s May, June and July exports will be lower. Under the accord, some Western economic sanctions were eased in exchange for a freeze on most of Iran’s nuclear activities, for the purpose of giving negotiators more time to reach a permanent agreement. Negotiators for the five permanent members of the United Nations Security Council plus Germany are seeking guarantees that Iran’s nuclear fuel cannot be used to make bombs.

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(via NY Times)