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Iran Oil and Gas Condensate Exports Higher in March

Crude oil and gas condensate loading from Iranian oil terminals, namely Kharg in the Persian Gulf, increased 12% to 1.70 million barrels per day in March, the highest since last October.

“Major buyers are picking bigger volumes before the latest US sanctions waivers expire in early May,” ISNA quoted shipping sources as saying.

According to the news agency, oil exports plunged under the US restrictions announced last May. Nonetheless, levels recovered to some extent in March. The National Iranian Oil Company exported close to 2.6 million bpd last May.

Exports are likely to decline again in the coming months if the US mounts pressure on the main oil buyers including China, India, Japan, South Korea, Turkey and Greece.
Source: Financial Tribune

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