This boost comes after months of lower-than-average intakes earlier in the year. Iran’s crude oil exports have been severely curtailed over the last 18-24 months, following the 2012 implementation of a strict regime of sanctions on Iranian crude oil sales by the EU and US, which Washington estimates have cost Tehran upwards of $80bn in lost oil revenues.

But the breakthrough interim deal in November between Iran and the P5+1 group of world powers on Tehran’s nuclear program could also result in increased purchases of Iranian crude by existing and possibly even new customers, though any such effect would be at best limited until a more comprehensive deal is struck. (CONTINUED - 1866 WORDS)