IRAN

After yet another month of bumper imports of Iranian oil by China and India, the country’s exports appear to be pushing well beyond levels the US and its allies had indicated as acceptable under the terms of their interim nuclear deal with Iran.

Imports of Iranian crude oil and condensates rose by close to 200,000 b/d in April versus March levels, to breach the 1.4mn b/d mark. By 2011 standards, this would represent a disastrous month for Iranian exports, which were then...