NEW YORK, March 28 (UPI) -- Crude oil prices traded slightly lower early Monday as supply strains built up against expectations of some form of cut from major producers next month.
The Iranian Oil Ministry's news website Shana reports Iran exported around 14 million barrels of crude oil to European buyers since January, when sanctions pressures started to relax in response to last year's multilateral nuclear agreement. Iran since January has sought to regain a market share lost in the four years since the European Union slapped sanctions on the country's energy sector.