• 2 minutes U.S. Presidential Elections Status - Electoral Votes
  • 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 7 minutes United States LNG Exports Reach Third Place
  • 7 hours Here it is, the actual Complaint filed by Dominion Voting Machines against Sydney Powell
  • 1 hour https://www.prageru.com/video/whats-wrong-with-wind-and-solar/
  • 8 hours Pollster Frank Luntz released a poll today showing 90% of those that voted for Trump in November would vote for him again.
  • 8 hours Do Republicans like Liz Cheney, Adam Kinzinger, Mitt Romney and now McConnell think voting for Impeachment can save the party ? Without Trump base what is the Republican constituency ? It's over.
  • 13 hours CNN's Jake Tapper questions double amputee purple heart recipient GOP Rep's commitment to democracy. Tapper is a disgrace.
  • 8 hours ICE Engines Hear to Stay Regardless of War Against
  • 14 hours Tonight Twitter took down Trump's personal account permanently. Trump responded on the POTUS account.
  • 5 hours A Message from President Donald J. Trump - 5 minutes from The White House directly
  • 9 hours Minerals, Mining and Industrial Ecology
  • 12 hours The World Economic Forum & Davos - Setting the agenda on fossil fuels, global regulations, etc.
  • 8 hours a In 2020, we produced and delivered half a million cars.
  • 8 hours Trump Supporters Just Handed a Huge Propaganda Victory to China
  • 1 day Evidence is evidence, voter fraud by state
Oil Rises On Crude Draw Despite Product Builds

Oil Rises On Crude Draw Despite Product Builds

Oil prices reversed on Wednesday…

Why A Fracking Ban Won’t Kill U.S. Shale

Why A Fracking Ban Won’t Kill U.S. Shale

Fracking has been the cornerstone…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

Iran To Export More Oil In February

Iran’s crude oil and gas condensate exports are expected to rise to about 2.2 million barrels per day in February, thanks to a shipment to Indonesia – the first since sanctions against Tehran were lifted last year. That’s according to an unnamed source that spoke to Reuters.

This month, Iran is set to export some 2.16 million bpd. Post-sanction exports reached a high of almost 2.6 million barrels last September, Reuters notes, and this amount has not yet been exceeded. According to figures from Iran’s Oil Ministry, oil exports between March and December 2016 averaged 2.57 million bpd, with the December rate rising to 2.83 million bpd. These figures, however, have not been confirmed by external sources.

Earlier this month, Oil Minister Bijan Zanganeh said that earnings from oil and condensate exports had reached US$29 billion in all of 2016, of which US$24.7 billion has been received. What’s more, export earnings for March 31, 2016, to March 31, 2017, Iran’s fiscal year, are expected to come in at US$41 billion. Related: Oil Price Meltdown – Is Trump Setting The Oil Markets Up For Another Bust?

Europe has come to account for a growing portion of Iran’s exports, local media reported yesterday. In December, oil shipments to Europe stood at 767,000 bpd, which represented a 10-percent increase on a monthly basis. This December daily rate is very close to pre-sanction export levels to Europe, which averaged 800,000 barrels daily.

Recently, Iran managed to clear one more hurdle to its oil export expansion: the International Group of P&I Clubs agreed to start offering almost full insurance coverage on export-bound oil cargoes from Iran. The insurers, 13 of them, will now offer up to US$3.08 billion per tanker, compared with US$830 million over the last year, as insurers and reinsurers steered clear of Iran cargoes because of remaining U.S. sanctions.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News