IEA chief: Iran may sell oil from floating storage after easing of sanctions

Iran had around 37 million barrels (oil) in floating storage in late Oct

Iran may sell oil from its floating storage after a recent deal with western powers provided some relief to the Islamic nation, International Energy Agency (IEA) head Maria van der Hoeven said at a gas conference in New Delhi on Wednesday.

Iran struck a landmark deal at the end of November with six world powers over its disputed nuclear programme, which allows it to keep its oil output at current levels.

"In late October we saw they had around 37 million barrels (oil) in floating storage. I can imagine that Iran would like to get rid of them," van der Hoeven said.

The deal also relaxes restrictions on the insurance front, which might make it easier for Iran to ramp down the oil in storage, she added.