Oil falls as Iran firm on export rise, U.S. rigs decline slower

Brent crude prices fell two percent on Monday as investor focus returned to global supply, with Iran insisting on a rise in oil exports and U.S. drillers slowing the reduction in rigs.
Global benchmark Brent futures were down $1.06 at $47.66 a barrel by 1345 GMT, on track for a fourth straight day of losses for the first time in a month.

U.S. crude futures traded at $47.49 a barrel, down 92 cents on Friday's close.
Iran's Deputy Oil Minister Rokneddin Javadi told the Mehr news agency on Sunday his country had no plan to halt a rise in oil production and exports.

He said Iranian crude exports, excluding gas condensates, were at 2 million barrels per day (bpd) and would reach 2.2 million bpd by the middle of summer.
His comments further dampened expectation for a coordinated decision to freeze OPEC oil production at a meeting of the exporter group in Vienna on June 2.

Source:  http://uk.reuters.com/article/uk-global-oil-idUKKCN0YE00N

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