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Impact of Iran oil sanctions on prices

Impact of Iran oil sanctions on prices

Donald Trump has announced he is exempting eight countries from Iran oil sanctions to prevent a price spike which may reach 100dbp if the sanctions are implemented too quickly.

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Iran: Saudi Arabia, Russia violated oil output cuts

Iran: Saudi Arabia, Russia violated oil output cuts

Iran accused Saudi Arabia and Russia on Wednesday of breaking OPEC’s agreement on output cuts by producing more crude, adding that the two countries would not be able to produce enough oil to make up for a reduction in Iranian exports, reports Reuters.

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Pros and cons of Iran oil sanctions

Pros and cons of Iran oil sanctions

U.S. President Donald Trump must be overjoyed at the impact his sanctions on Iran are having more than a month before they even go into effect. They are crippling exports from the Islamic Republic, at minimal cost to the U.S. Unfortunately, they have yet to succeed in changing the regime’s policies, and are pushing prices back up to levels not seen in more than four years.

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Oil climbs as market conditions get tighter

Oil climbs as market conditions get tighter

Oil prices rose on Monday as U.S. drilling for new production stalled and as the market eyed tighter conditions once Washington’s sanctions against Iran’s crude exports kick in from November.

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China defies US sanctions as EU leaves Iran

China defies US sanctions as EU leaves Iran

Reuters reports that China, seeking to skirt U.S. sanctions, will use oil tankers from Iran for its purchases of that country’s crude, throwing Tehran a lifeline while European companies such as France’s Total are walking away due to fear of reprisals from Washington.

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Zangeneh pressing OPEC for quotas

Zangeneh pressing OPEC for quotas

Irina Slav writes in Oil Price that Iran’s Oil Minister Bijan Zanganeh will attend the September meeting of the Joint Ministerial Monitoring Committee of OPEC and Russia and will probably press his OPEC partners to preserve original member production quotas, S&P Global Platts reports, quoting an Iranian oil ministry official.

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