Tuesday, October 6, 2015

Iran Oil Exports Falling for Third Consecutive Month

Hitting a Low of 820,000 bpd
Iran’s oil exports fell for the third month in a row, reaching an average of 830,000 barrels a day, Reuters reported today. The slide in oil exports is continuing in spite of significant discounts offered by Iran to its Asian customers, China, India, Japan and South Korea, which together are buying 720,000 bpd of Iranian crude, or nearly 90 percent of the country’s exports.

China, Iran’s biggest customer, is purchasing 370,000 bpd, the lowest volume in a long time. India, the second biggest customer, is purchasing only 170,000 bpd, 20 percent below last month’s level, followed by Japan and South Korea at 100,000 and 80,000 bpd respectively.

File photo: Iran's oil export terminal at Kharq Island in the Persian Gulf (Getty)


Anonymous said...

it is a bad or a good news ?

Anonymous said...

But the islamic regime said it no longer needs to rely on oil but tax people instead,right?

Anonymous said...

Much if not most of Iran's oil production goes toward its domestic consumption .