Iran storing 30 million barrels of oil at sea
Iran is storing at least 30 million barrels of oil on its fleet of supertankers as Western sanctions continue to keep a lid on sales, tanker market sources say. World powers are trying to reach a framework deal with Tehran by the end of the month that would restrict the most sensitive aspects of Iran's disputed atomic programme in return for an easing of international sanctions. Sanctions have halved Iran's oil exports to just over 1 million barrels per day since 2012 and hammered its economy. Higher Iranian oil exports are likely to put ...
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