Iranian oil exports rise despite sanctions

In a signal that the international market anticipates a more conciliatory Biden administration regarding JCPOA resumption and easing of sanctions, Iran’s oil exports have risen in Q4 and January, according to three firms that derive their estimate from tracking tankers. SVB International estimated that Iranian crude exports increased from 490,000 barrels per day in October to 710,000 in December. Shipments and productions are moving up in January.