Iran Calls U.S. Efforts to cut its Oil Exports to Zero ‘Political Bluff’ i

Statements by the United States that it would reduce Iran’s oil exports to zero are a “political bluff”, the head of state-run National Iranian Oil Company (NIOC) said, according to a report published by Tasnim news agency on Wednesday. Iran’s Foreign Ministry also criticized U.S. sanctions imposed on Tuesday on several Iranian banks and other
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Iran’s oil exports have only declined “very slightly,” while production has remained level, the managing director of National Iranian Oil Company said Tuesday. “We are very solid now” in terms of production outlook, Ali Kardor said at an oil and power conference in Tehran, though he conceded that this could change depending on how NIOC’s
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India’s oil imports from Iran edged up in September from the previous month as refiners pushed back loading of some August cargoes due to a delay in obtaining government approval to use Iranian ships and insurance, data obtained from sources showed. Last month, India shipped in about 528,000 barrels per day (bpd) oil from Iran,
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Tanker owners are gearing up for the seasonal surge in global demand for oil in the fourth quarter of 2018, which coincides with the entrance into force of US sanctions on Iran. Iranian companies that are facing the new wave of sanctions following the 180-day wind-down period ending on November 4, 2018 are the National Iranian
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Crude oil prices may be seeing the end of its faster-than-expected hike in the near term, said asset management firm Aberdeen Standard Investment. “Going forward, we believe that global demand and supply numbers are pretty much lined up. We do believe that we will not get excessive pressure from demand outstripping supply,” Aberdeen Asia-Pacific head
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The export volumes are expected to rise to 2.2 million barrels a day in 2019 and hit 3.9 million barrels a day by 2020, according to a new report by research firm S&P Global Platts. The increasing crude oil exports will be linked to continued oil production growth in U.S. shale oil fields, particularly the
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Indian buyers reduced U.S. crude purchases and loaded up on Iranian oil ahead of the restart of U.S. sanctions next month and as the WTI-Brent differential narrowed, according to traders and shipping intelligence firm Kpler. U.S. oil shipments to India fell to 84,000 barrels per day (bpd) last month, down 75 percent from a record
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Russian President Vladimir Putin said his American counterpart’s Iran sanctions are largely to blame for current high oil prices. “President Trump considers that the price is high; he’s partly right, but let’s be honest,” Putin said at the Russian Energy Week conference in Moscow on Wednesday. “Donald, if you want to find the culprit for
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Oil prices rose last week to more than $80 per barrel for the first time since November 2014. Rather than rising on the back of strong demand growth and a positive outlook for the global economy, the recent move in prices has been catalysed by growing market anxiety over supply. In a reversal of the
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Hedge fund managers are increasingly betting Saudi Arabia and its allies cannot or will not replace all the crude lost from the market when U.S. sanctions on Iran go into effect fully from November. Hedge funds and other money managers increased their combined net long position in the six major petroleum contracts by another 50
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