Lower Crude Oil Demand News

Iran's Oil Exports Fall in April

Iran's oil exports fell in April for a second month, according to sources who track tanker movements, moving closer to levels allowed by November's interim deal on curbing Tehran's nuclear program. The decline may reflect seasonally lower crude oil demand and U.S. pressure on some customers take less. Signs of higher Iranian sales since late 2013 have led to concern in Washington that a softening of sanctions has given Tehran's economy a boost. "It looks like India has imported less in April - that could be due to a combination of more pressure from the United States and also lower crude demand at this time of year by Indian buyers," a tanker-tracking source said.