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IEA: Iran's oil market return 'more modest' than forecast

from Bloomberg

The increase in Iran's oil exports after the lifting of sanctions has been "more modest" than the country intended, according to the International Energy Agency. Iran increased oil output by 300,000 barrels a day this year to a four-year high of 3.2 million a day in February, the Paris-based agency said. That's less than the 400,000 barrel-a-day increase Iran itself has reported. Even after sanctions were eased following the completion of a nuclear deal, Iran still faces obstacles to selling crude to Europe, one of its main export markets before the trade restrictions were imposed in 2012. more

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