Germany plans to offer legal advice to help its firms continue to do business in Iran, Economy Minister Peter Altmaier also said on Friday. Their most recent report was 2.5 million bpd. US crude production pushed to a fresh all-time high as explorers put the most drilling rigs to work in 3 1/2 years.
Oil prices have climbed to a three-year high as the market prepares for Iranian exports to fall.
"We believe the previous 1 million BPD (barrel per day) limit for exports (imposed during previous sanctions) will be reimposed".
The two men urged European countries to go beyond "mere words" and counter Trump's withdrawal from the Iran nuclear deal with real, concrete actions. "I think they would as quickly as possible try to implement the sanctions".