Iran’s OilMin Zanganeh: Oil exports to South Korea up fourfold since January

Iranian Oil Minister Bijan Zanganeh noted via Reuters on Tuesday, Tehran had quadrupled its oil exports to the world's fifth-largest importer of crude, sending Seoul 400,000 barrels a day in April, up from 100,000 barrels before economic sanctions were lifted in January under a nuclear deal with world powers. The Iranian leader now expects to triple its yearly trade with Seoul.

His announcement came on a day after a report from the OPEC oil cartel showed that Iran increased its daily oil production to 3.5 million barrels a day last month, the most since December 2011.