Iran’s oil exports up in May: sources

Iran's crude oil exports increased in May after a decline in April, according to sources who track tanker movements, moving above the level allowed by November's interim deal on curbing Tehran's nuclear program.

The increase appears to be led by higher sales to China in particular.

Iran's exports have averaged 1.38 million barrels per day (bpd) in May, one of the sources said. That represents an increase from 1.1 million bpd in April, as estimated by the Paris-based International Energy Agency.

"Overall exports have increased in May," the source said. "We have seen more vessels paying visits to Turkey. China has increased imports this month."

A second source, who also tracks Iranian exports, also noted that loading data pointed to a rise in Iranian shipments in May, including robust shipments to China.

China's crude imports from Iran more than doubled in April against the same month last year to a record of nearly 800,000 bpd, Chinese customs data showed last week.

Under an interim deal signed in November between Iran and six world powers, which came into effect in January, Iran's exports should average 1 million bpd through to July 20.

Iran's oil minister Bijan Zanganeh said this month that, despite being under Western sanctions, Tehran would increase oil output and exports this year and next.