Posted on 10/27/2016 11:22:15 AM PDT by bananaman22
A typically low seasonal demand in Europe will lead to Iran exporting 1.89 million bpd of crude oil next month, the lowest level since July, Reuters reported on Thursday, citing a source with knowledge of Iran’s tanker schedule.
As a rule of thumb, Iranian crude oil exports usually hit low levels around the months of October and November due to the peak in refinery maintenance in Europe and Asia. This year around, however, the November exports to Asia will rise from October due to higher Chinese demand.
This year, Iran has been rapidly bumping up oil production and exports after the international sanctions were lifted in January. In August, Iran’s exports hit a five-year-high of 2.11 million bpd, up by 15 percent from July.
(Excerpt) Read more at oilprice.com ...
Obama broke the US oil market by lifting sanctions on Iran’s oil exports. He loves militant Muslims and despises Texans, Oklahomans, and North Dakotans.
The dependency on Middle East oil is the number one factor in our involvement in that hell hole. It was treason to let oil flow from Iran, unfreeze money and inexplicably give them the tools for nuclear generation (i.e the bomb just like N.Korea) Furthermore, lacking any sound energy policies and alternatives, very little self sufficiency and suffocating regulation absolutely wrecks the U.S. economy. FUBO
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