US Cannot Offset Iran Crude Cut

US Cannot Offset Iran Crude CutUS 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.


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment