Iran hopes its crude oil exports will return to pre-sanctions levels within three months once a deal with major powers to lift an oil embargo is finalised, Iran's deputy oil minister said on Monday.
"We hope we can come back to the export levels that we had before the sanctions," Rokneddin Javadi, who is also the managing director of the National Iranian Oil Company, told Reuters.
"Yes, 2.5 (million barrels per day), around," he said on the sidelines of the Asia Oil and Gas Conference in Kuala Lumpur.
A recent framework deal on Iran's disputed nuclear programme between Tehran and world powers could see sanctions on Iran eventually lifted if a more permanent pact is finalised by a June deadline.
The sanctions have more than halved Iranian oil exports since 2012 to about 1 million bpd, mainly to Asia. (Reuters)
2:11 A.M. Saudi-led coalition resumes air raids on Yemen's Houthis
A Saudi Arabian-led coalition resumed air strikes against Yemen's Houthi militia in the southern city of Aden after a five-day truce expired, a Reuters eyewitness said on Monday.
The witness said explosions could be heard near Aden airport and the districts of Khor Maksar and Crater. No further details were immediately available. The humanitarian truce ended on Sunday at 2000 GMT. (Reuters)
12:50 A.M. U.S.: Situation in Iraq's Ramadi "fluid," too early to say if Islamic State in control
The Pentagon said on Sunday it was monitoring reports of continued fighting in the western Iraqi city of Ramadi and that the situation remained "fluid and contested," despite an assertion by Islamic State militants that they had seized full control there.
"It is too early to make definitive statements about the situation on the ground there at this time," said Defense Department spokeswoman Maureen Schumann when asked if the United States had confirmed Islamic State's statement that Ramadi, the capital of Anbar province, had completely fallen.
She said the United States was "continuing to monitor reports of tough fighting in Ramadi and the situation remains fluid and contested." The routing of Iraqi forces in Ramadi, where security sources said they lost a key military base on Sunday, would mark the biggest defeat for Baghdad since last summer.
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