Sunday , August 14 2022

Iran's oil exports decline due to sanctions


Iranian oil exports this month dropped by one hundred thousand barrels per day. Referring to Petro-Logistics's overseeing oil company statement, US sanctions on Tehran earlier this month dumped many buyers.

A supplier of oil supplies from the OPEC member states and other major exporters said the shipments had fallen sharply in early November, as consumers expect an administrative sanction.

"In November, Iran's crude oil exports dropped to several hundred thousand barrels per day compared to October," said Daniel Gerber, Reuters CEO.

"At the beginning of this month, the low volumes we have seen were due to the fact that buyers did not want to plan the items they plan to comment on the exemption from sanctions."

Petro Logistics did not provide a specific figure for November export, but as the sanctions came into force this month, it was found that the shipment was substantial.

The other two exporters have denied the November figures, but a few hundred thousand barrels a day dropped Iran's crude exports by one million per month
October barrels per branch measurements per day.

According to Kepler, Iran exports 1.85 million barrels per day (October) and another Iranian cargo control company has exported 1.5 million barrels per day.

Other calculations for the export of the current month, according to data of Recinitiv Haute, were less than 100 thousand barrels per day since the beginning of November.

In the first half of the month, exports accounted for around 340,000 barrels per day, but these figures do not count all carriers that have shut down the electronic control system used in the ships and make them "unspecified".

We hope the volumes have increased in the past week, "Gerber said.

Thanks to the US sanctions for eight November buyers, the volume of exports allowed importing at least 180 days.

US President Donald Trump does not have to pay a minimum of $ 2.5 million in April before the US withdrawal from the 2015 nuclear agreement between Iran and the United States.
And it also increases sanctions against Tehran.

Iran has promised to continue exporting oil, despite the fact that oil deliveries to zero.

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