Iran Oil Trade Hits 1.4mn b/d: Downhill From Here?

*Imports of Iranian crude and condensate by end-users hit 1.37mn b/d in February, the highest level since October, on the eve of US sanctions which entered force 5 November. Volumes will be similar in March, shipping data indicate, but are set to drop off sharply in April as the 2 May end of the first 180-day sanctions period and accompanying ‘waivers’ approaches.

*February import data from Iran’s four Asian customers shows total takings of 1.213mn b/d, up over 400,000 b/d on January and the highest figure since last August (see chart). Indications are that volumes are similar for March. (CONTINUED - 667 WORDS)


chart Asian Imports Of Iranian Crude And Condensate ('000 B/D)