Iran appears to have started up a new gasoline unit at Isfahan refinery which it previously stated would add 60,000-70,000 b/d output capacity of the fuel. State refining firm NIORDC claims that gasoline output hit a new record of 105mn liters/day (660,000 b/d) in recent weeks.

Iran’s gasoline production averaged 540,000 b/d for January-July 2018 according to the latest data submitted to Jodi, so this represents a 120,000 b/d (22%) increase. This hike cannot be attributed solely to...