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Iran’s Oil Export at Its Lowest Since 2015
According to Reuters, Iran’s oil export to Asia has increased a small amount since the sanction waivers were issued for 8 countries and it will probably remain at around 800 thousand barrels a day.
Based on the report, Iran has exported 761593 barrels a day to Asia in the month of December, which was a little more than its export in November.
The oil export is expected to remain at around 800 thousand barrels a day until the expiration of the waivers.
India and China respectively bought 500 thousand and 302 thousand barrels of oil and LNG a day from Iran in December. It is not clear whether the exemptions will be extended.
In another report, Reuters announced that Iran’s oil production has decreased by 50 thousand barrels a day. Therefore, Iran’s oil both in production and in export has dropped to its lowest levels since 2015.
Recently OPEC countries agreed to decrease their production, but Iran was exempted from this decision.
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