Iran’s crude oil exports since the start of the month have averaged around 500,000 barrels per day (bpd), according to a Reuters report that cites estimates from tanker tracking companies.

This is lower than March levels but much higher than a year ago, the report noted.

“Exports have continued at these elevated levels longer than we expected,” Reuters quoted the CEO of Petro-Logistics, Daniel Gerber, as saying. “And with constructive talks occurring in Vienna, we may never see a return to the 2020 lows.”

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Calculating Iranian crude oil exports is difficult because of the cargo-masking and ship-to-ship transfers that Iran uses to circumvent US sanctions that caused a slump in both its production and exports of oil. Yet, with the change of administration in Washington, hopes have returned that the United States could rejoin the Iran nuclear deal and lift sanctions. (RT)