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Iran Says It Will Keep Exporting Oil Despite U.S. Pressure

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Iran will continue to export oil despite U.S. pressure aimed at reducing the country’s crude shipments to zero, Iranian President Hassan Rouhani said on Tuesday. “America’s decision that Iran’s oil exports must reach zero is a wrong and mistaken decision, and we won’t let this decision be executed and operational,” Rouhani said in a speech broadcast live on state television. “In future months, the Americans themselves will see that we will continue our oil exports.”Oil prices hit their highest since November in recent days after Washington said all waivers for sanctions-hit Iranian oil would end this week, pressuring importers to stop buying from Tehran and further tightening global supply. The United States demanded on April 22 that buyers of Iranian oil stop purchases by May 1 or face sanctions, ending six months of waivers that had allowed Iran’s eight biggest customers, most of them in Asia, to import limited volumes. Rouhani said if the United States can block one method for Iran to export oil, Tehran will find other ways to do so.

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If I remember well they "promised" to close Hormuz? So, now mullahs are ready to smuggle oil...
 

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They have come to the end. Mullahs have occupied the rich country and have used Iranian lives and resources for their own goals.

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9 minutes ago, Pavel said:

If I remember well they "promised" to close Hormuz? So, now mullahs are ready to smuggle oil...
 

Gotta keep that oil flowing when Iran closes the straight...

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Risk for an oil spike is now very high.. It's not only Iran, but Venezuela, civil war in Libya, Nigerian pipeline attacks 

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(edited)

On 4/30/2019 at 10:09 AM, 50 shades of black said:

Risk for an oil spike is now very high.. It's not only Iran, but Venezuela, civil war in Libya, Nigerian pipeline attacks 

Nigeria oil exports just hit record high last month. Close to 2 mmbls/day

Venezuela will have honest elections very soon and oil exports of 2 mmbls/d by end of next year 2020. 

Libya will have stable govt after Strongman Haftar finishes up.  The French , Russian, British and Italian oil companies will be bidding on Libyan oil contracts. Oil exports will double by 2021 to over 2 mmbls/day. 

Iran ? Who knows.  I will tell you if Iran tries to close the Straights of Hormuz blocking 18 million bbls/day of exports, look out.  

I can imagine TRUMP sitting in the Oval Office thinking, "GO AHEAD MAKE MY DAY".  

You can bet the attack plan and targets are mapped out, Minuteman Missiles loaded, Tomahawk missiles mounted and US Command ready.

TRUMP would love nothing better than having an excuse to hit every Iranian military installation, naval base, Republican Guard Post and most of all every known nuclear facility.

All Just My Opinion.

Edited by Falcon

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How many will be willing to buy in the meaningful numbers?

We have another discussion thread going on about that.. very lively discussion!!

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4 minutes ago, ceo_energemsier said:

How many will be willing to buy in the meaningful numbers?

We have another discussion thread going on about that.. very lively discussion!!

Another Iranian barrels buyers withdrawing

Turkey Looks Beyond Iranian Barrels

Apr 30, 2019 10:55:01 AM EST
 

Back in 2014, amid sanctions on Iran, Turkey was importing around 100,000 barrels per day of Iranian oil. Imports doubled to over 200,000 bpd in 2017, before the re-imposition of sanctions by the United States late last year. 

The drop in crude imports both this year and in 2014 compared to 2017 levels is a reflection of the severity of Washington’s sanctions:

image.png.4792854af459c0667ea55a9be34c76ea.png

Ankara, just like Beijing, objected vocally to the end of US waivers on imported Iranian oil, giving the impression they may not abide with the US decision. “Turkey rejects unilateral sanctions and imposition on how to conduct relations with neighbors,” said Turkish Foreign Minister Mevlut Cavusoglu in a tweet on April 22.

Even though countries with waivers have continued to pull in Iranian crude over the last six months, they have reduced the number of barrels received from Iran and diversified their suppliers. Given what we see in our flows data, it appears that Iranian oil importers were aware that waivers may not be renewed prior to Washington's announcement on April 22. 

 

So far this year, we have seen changes in Turkey’s crude oil sources, both in light and medium grades. We see Turkey importing more oil from Russia (medium), Kazakhstan (light), Libya (light), and Nigeria (light and medium) compared to 2018.

Of those barrels, Russia has been exporting significantly more to Turkey this year. In March, Turkey imported over 200,000 bpd of Urals, the highest monthly pace on our records.

Compared to last year, crude from Nigeria and Libya has been more or less continuous over the first four months of the year. From January to April of last year, we did not see Turkey importing any Libyan crude, unlike this year when imports averaged 24,000 bpd. Nigerian exports so far this year are up about 16 percent compared to the same period last year.

Iraqi flows have also shown a dramatic change in trend. Turkey’s imports of Basrah Light averaged 38,000 bpd in the first four months of last year, but have doubled in 2019 to average 80,000 bpd:

Turkey 2

In April 2018, Turkey imported an average of 240,000 bpd of Iranian crude oil. So far this month, Turkey has imported less than half that volume, with flows only likely to come under further downward pressure from here.

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