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Pandemic Dislodges Oil, Gas and Petrochemical Exports

Petroleum and petrochemical products account for one-third of Iran’s total exports. China, the UAE, Iraq, Afghanistan and Turkey were the top five destinations for such products in the first month (March 20-April 19) of the new calendar year
Pandemic Dislodges Oil, Gas and Petrochemical Exports Pandemic Dislodges Oil, Gas and Petrochemical Exports

The value of oil, gas and petrochemical exports has declined due to upheavals in the international oil market caused by the coronavirus. The massive quarantines and market closures worldwide have had a negative impact on the sales of the strategic products, a spokesman of the Iranian Oil, Gas and Petrochemical Products Exporters' Union said.
“According to recent data from the Iran Customs Administration, total exports in the first month of the new calendar year (March 20-April 19) was $3.58 billion, which was down 36% compared to the same period last year,” Hamid Hosseini was quoted as saying by ISNA.
As many countries imposed mass quarantines and businesses were forced to down shutters to slow the virus spread in the past three months, consumption of petroleum and petrochemical products has fallen to levels unseen in modern history. 

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