Iran Oil Exports Hit Record...

[Royalblood + 14]

Iranian media say that the country's crude exports have managed to hit a new record even as Washington withdrew from nuke deal and promised new sanctions. So I guess buyers are taking full advantage of the 180-day waiting period to stop buying from Iran. It's been a great sales gimmick. According to Tehran, they exported 2.4 MMbbl/d in May, and 300,000 bbl/d of NG condensate. It's not much more than April, though ... I think the total in April was 2.6 MMbbl/d (but that's both crude and condensates). 

[Rodent + 1,424]

3 minutes ago, Royalblood said:

Iranian media say that the country's crude exports have managed to hit a new record even as Washington withdrew from nuke deal and promised new sanctions. So I guess buyers are taking full advantage of the 180-day waiting period to stop buying from Iran. It's been a great sales gimmick. According to Tehran, they exported 2.4 MMbbl/d in May, and 300,000 bbl/d of NG condensate. It's not much more than April, though ... I think the total in April was 2.6 MMbbl/d (but that's both crude and condensates). 

That was May, this is now. 

https://www.reuters.com/article/us-iran-oil-europe/european-refiners-winding-down-purchases-of-iranian-oil-idUSKCN1J21F0?rpc=401&

[HK Rach + 10]

but the bulk of that oil comes my way (to Asia) ... 

[Rodent + 1,424]

3 minutes ago, HK Rach said:

but the bulk of that oil comes my way (to Asia) ... 

Agreed, but it's interesting to note that since sanctions have been lifted, a significant portion of their oil is once again going to Spain, Greece, Italy, and France.