Security

Iran’s Oil Exports To Drop To An All-Time Low

CREDIT:

Iran’s oil exports for the month of December are projected to drop by almost a quarter from November, resulting in an $800 million loss. Iran’s exports, which have plummeted as a result of sanctions put in place by the U.N., U.S., and E.U., may be as low as 834,000 barrels per day (bpd) in December. In addition to lowering their orders, China, India, and South Korea have asked Iran to ship the oil because the Asian countries cannot get their own tankers insured, one of the many impacts of sanctions.

— Greg Noth

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