Iran’s Oil Exporters Hit Record in April
Iran’s Oil Exporters Hit Record in April

Iran Oil Exports Hit Record in April

Iran Oil Exports Hit Record in April

Iran’s crude exporters had a banner April, with shipments soaring to a record right before the possible reimposition of US sanctions on their oil sales.
Crude exports by OPEC’s third-biggest producer totaled 2.61 million barrels a day, according to the Iranian Oil Ministry’s Shana news service.
That beat the previous high of 2.44 million barrels a day in October 2016, Bloomberg reported.
US President Donald Trump will decide by May 12 whether to keep America in an international agreement that restricts Iran’s nuclear activities in exchange for relief from sanctions and a restriction on oil sales. Since sanctions were eased as of January 2016, Iran’s crude production has almost doubled.
Some oil traders are already unwilling to sign contracts for Iranian crude and refined products that would be valid after May 12, according to recent interviews with six companies that buy and sell oil in the Middle East.
Iran’s crude and condensate exports in April were 2.87 million barrels a day, Shana reported.
Observed shipments of both rose to 2.83 million barrels a day from 2.48 million barrels in March, according to ship-tracking data compiled by Bloomberg. Crude volume alone rose to 2.48 million barrels from 2.06 million, the data show.
The surge follows an eye-catching increase in the country's crude exports to India and China, which together took 1.4 million barrels a day from Iran in April.
India purchased about 700,000 barrels of crude oil from Iran in March, hitting a record high in the history of bilateral oil trades.
Iran's oil exports to India were over 50% higher than that of last fiscal year (ended March 20, 2018), which stood at around 450,000 bpd.

Short URL : https://goo.gl/JxtUNS
  1. https://goo.gl/vGrBAM
  • https://goo.gl/MBja3c
  • https://goo.gl/ubdZsN
  • https://goo.gl/1N9qG6
  • https://goo.gl/Wm6HGR

You can also read ...

Russia Launches First Floating Nuclear Plant
To meet its growing electricity needs while developing oil...
Abadan Refinery Gasoline  Production Capacity at 12 ml/d
In line with efforts to boost the country's oil refining...
Germany Brushes Aside US Objection to Nord Stream 2
Germany brushed aside American concerns about a major natural...
New Anti-Pollution Shipping Rules to Raise Oil Prices
International efforts to reduce air pollution has lifted the...
US Petroleum Demand High
The American Petroleum Institute reported that the first four...
Annual Peak Power Demand  to Increase
The total peak electricity demand hours are predicted to reach...
Iran's downstream market has a vast potential for attracting foreign companies.
US President Donald Trump’s decision to quit Iran's...

Add new comment

Read our comment policy before posting your viewpoints