Iran plans to boost oil exports to at least 2.5 million barrels of oil per day (bpd) in June, Iran's OPEC representative was reported as saying on Sunday.
Shipments from OPEC's second-largest oil exporter have rebounded from a fall of around 200,000 bpd in April and May when refinery maintenance reduced demand.
"On the basis of this programme [Iran's crude export programme], Iran will be exporting at least 2.5 million bpd oil in June," Mohammad Ali Khatibi said according to the Oil Ministry website Shana.
Exports from Iran averaged just over 2.45 million bpd during the first quarter before the slowdown in April and May. Refinery maintenance is typically carried out in spring as peak winter demand ebbs.
The slowdown in exports contributed to rising stocks of crude in storage in vessels floating off Iran's shores. Iran leased a fleet of giant crude ships to hold over 30 million barrels of oil, a shipping industry source said last month.
Traders have speculated that Iran would have to cut the price to sell the oil, but Shana reported Khatibi as saying Tehran was offering no discounts.
"Iranian crude oil is being sold on the basis of official monthly prices communicated to the customers," he said.
Iranian oil officials and customers last month said Iran was reviewing its output because stocks had swollen.
Refiners were refusing to pay up for heavy crude that is difficult to convert into transport fuels and Iran was refusing to reduce prices.
Much of the crude on the tankers was from the Soroush and Nowrouz fields, which produce around 190,000 bpd, traders said.
Khatibi said that it was normal for Iran to stockpile these crudes in oil tankers. A large amount of the crude was committed to long-term deals with customers and Iran was not looking for any more buyers for the oil, he added.
Around 60 percent of Iran's crude sales are destined for Asia, with most of the rest moving to Europe and Africa. (Reuters)
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