Iran continues oil exports on normal trend

Despite the western media reports, Iran has continued exporting oil as strongly as before. "Exports in May are looking steady," said one of the sources, who declined to be identified. The Organization of Petroleum Exporting Countries said Iran's oil output in April was 3.758 million barrels per day, 182,000 barrels per day more than its output in 2011, effectively disproving the claims that output had been impacted by the sanctions imposed on Iran. According to OPEC's Monthly Oil Market Report, on average, Iran produced 3.576 million barrels of crude oil per day in 2011 and 3.544 million barrels per day in 2010. The country's oil production has steadily increased in 2012, rising to 3.758 million barrels per day in April. Iran's oil production stood at 3.742 million barrels per day in the Q1 of 2012 which was an increase of 133,000 barrels per day in comparison to the output in the Q4 of 2011. Iran has attached priority to boosting gas production capacity at its joint oilfields with Qatar and Saudi Arabia. The EU in January embargoed purchases of Iranian crude but let those with existing contracts continue importing until July 1. The West suspects Iran is trying to develop atomic bombs, while Iran says its nuclear work is solely for civilian purposes. The source with the European oil company also saw Iranian exports as largely steady so far in May.