Iran's oil exports may have dropped to below 1M bpd in January after a mini-rebound to 1.56M bpd in December, the International Energy Agency estimates, with the latest fall coming due to reduced purchases from China and South Korea as the West tightens sanctions even further. Iran's output fell 50,000 bpd to under a three-decades low of 2.65M bpd, and the IEA forecasts even more declines.
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