News

TEHRAN/LONDON, Feb 25 (Reuters) - Iran is taking advantage of Libya's turmoil and dwindling exports to sell more crude that it has found difficult to offload due to economic sanctions.

Unrest in Libya has slashed a big chunk of its crude oil output of 1.6 million barrels per day (bpd), with estimates of capacity shut down ranging from 500,000 to 1.2 million bpd.

Ahmad Ghalebani, Iranian deputy oil minister, said on Friday Iran had already seen an increase in demand following political upheaval in the Arab world.