US Cannot Offset Iran Crude Cut
US Cannot Offset Iran Crude Cut
Tuesday, September 11, 2018

US Cannot Offset Iran Crude Cut

Tuesday, September 11, 2018

US Cannot Offset Iran Crude Cut

The US oil output cannot replace Iranian crude in the international markets following sanctions imposed on Iran’s key sector that are due to take effect on Nov. 5, the Oil Ministry’s former deputy director for OPEC affairs said.
“Such a scheme is not applicable in the oil market due to two reasons, one of which is oil quality that is a major hurdle, as the US oil is of light type, whereas Iranian crude is relatively heavy. The second obstacle is that the US administration cannot issue a decree to oblige private oil companies to sell their output to India, for instance,” Reza Modir was also quoted as saying by ILNA on Monday.


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