Iran exaggerates oil export figures - US

January 24, 2014

Iran is exaggerating its crude oil export figures and won’t be allowed to sell more than 1 million barrels a day over the next six months, U.S. officials involved in managing sanctions against the country said, Bloomberg reported on January 24.

Iran says it shipped 1.51 million barrels a day in November, according to figures the nation submitted to the Riyadh-based Joint Organisations Data Initiative. The data, along with historical export figures, were published Jan. 20, the same day the U.S. and its allies temporarily eased some of the sanctions against the Persian Gulf state as part of a deal to curb its nuclear program.

Iran may be inflating its data to try to set a higher baseline for subsequent negotiations and hoping its elevated numbers will help attract overseas investors, said the U.S. government officials, who spoke on condition of anonymity because they weren’t authorized comment publicly. So far, Iran hasn’t challenged the 1 million barrel-a-day figure in meetings with U.S. negotiators, one of the U.S. officials said Jan. 22.

Copyright: Bloomberg, 2014