Iran’s March Oil Exports Fall To Two-Year Low As Asia Demand Eases -Source


Iran’s March Oil Exports Fall To Two-Year Low As Asia Demand Eases -Source

Iran’s crude and condensate exports are set to fall to a two-year low this month as loadings for its main Asian buyers will tumble by one-third from the previous month, said a person with knowledge of the country’s tanker loading schedule.

Global buyers are scheduled to lift 1.94 million barrels per day (bpd) of Iranian crude in March, down 21 percent from the previous month, said the source who declined to be named as the information is confidential. That is the lowest since March 2016.

Compared to a year ago, March liftings from Iran, the third-biggest producer among the Organization of the Petroleum Exporting Countries (OPEC), will be down 26 percent. The decline is occurring despite its efforts to entice customers, including reducing official selling prices and offering to raise the freight discounts to India.  Read More…

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