Iran Increases Oil Exports to China as OPEC Attempts to Cut Supplies

Iranian oil exports to China have risen amid a push in other OPEC+ countries to lower supplies due to ongoing coronavirus lockdowns which have caused global demand to fall over the last twelve months. Tehran has increased production by 140,000 barrels a day to 2.32 million a day, the highest since May 2019. Whilst this may aid Iran in the short term, continued U.S. sanctions on Tehran could cause severe difficulties in transitioning to a renewable energy economy as foreign investors will find