IRAN

Iranian Exports Still Low in April 

A variety of factors, some commercial and some physical, are combining to keep Iran's oil production and exports at a fairly low level. Exports in the first half of April are estimated at around 1.2mn b/d, which would indicate a production level of about 1.8mn b/d - some 500,000 b/d below Iran's current OPEC quota of 2.3mn b/d - and exports are expected to decline further in the second half of the month. About 500,000 b/d of exports are...