TEHRAN- Oil exports from Iran have increased significantly in March to once again reach to near pre-sanctions level, S&P Global Platts reported citing shipping and provisional tanker tracking data.

Based on the report, Iranian crude and condensate exports increased by 12 percent to 1.7 million barrels per day (bpd) in the mentioned month.
As expected, the surges in Iran’s oil exports came after the country’s Asian buyers rushed to use the opportunity that the waivers on U.S. sanctions has provided.
Since the first round of waivers expires on May 4, Iranian oil buyers including India, Japan, and South Korea are trying to convince the U.S. government to get another round of exemption from U.S. sanctions to be able to keep buying crude from Iran.
Earlier on Tuesday, South Korean news agency Yonhap reported that the Asian country is negotiating with the United States for extending the sanctions waiver on Iranian oil imports.
Platts also quoted a Japanese official on Wednesday that japan is seeking to get exempted from the sanctions for the second time.
According to Platts, China’s demand for Iranian crude has also rebounded in recent months. Flows to China averaged 627,710 bpd last month from levels of 571,464 bpd in February.
EF/MA