Uncertainty prevails on how much crude Iran placed following US ban

The US embargo against Iranian oil has not slowed production, but it may have had some impact on exports. Iranian production was 3.6 million barrels per day for June, 1995, which was down from 3.65 million barrels in April and May. The US had been buying between 400,000 and 450,000 barrels per day before the ban, and Iran has not increased its exports to other countries by nearly that much. France has increased its imports of Iranian oil by about 264,000 barrels per day. Much of the oil not bought during the embargo may be in storage.