According to the tanker data and industry sources, cited by Reuters, the Iranian crude exports are seen severely curtailed severely curtailed for a third month in January, despite some waivers secured by its traditional customers.
Key Points:
“Iran’s crude exports in November plummeted to below 1 million barrels per day, from regular sales of 2.5 million bpd before sanctions were imposed in May, and taking them back to where they stood during the previous round of sanctions in 2012-2016.
Buyers said plunging exports in November, which will severely hit the Islamic Republic’s budget revenues, were caused by a total lack of clarity of what volumes they were allowed to purchase under the new U.S. sanctions.”
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