• 4 minutes End of Sanction Waivers
  • 8 minutes Balancing Act---Sanctions, Venezuela, Trade War and Demand
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 14 minutes What Would Happen If the World Ran Out of Crude Oil?
  • 37 mins California is the second biggest consumer of oil in the U.S. after Texas.
  • 15 mins Permafrost Melting Will Cost Us $70 Trillion
  • 15 hours At Kim-Putin Summit: Theater For Two
  • 4 hours Let's just get rid of the Jones Act once and for all
  • 15 hours NAFTA, a view from Mexico: 'Don't Shoot Yourself In The Foot'
  • 22 hours UNCONFIRMED : US airstrikes target 32 oil tankers near Syria’s Deir al-Zor
  • 12 hours "Undeniable" Shale Slowdown?
  • 23 hours Nothing Better than Li-Ion on the Horizon
  • 1 day New German Study Shocks Electric Cars: “Considerably” Worse For Climate Than Diesel Cars, Up To 25% More CO2
  • 22 hours Russia To Start Deliveries Of S-400 To Turkey In July
  • 22 hours How many drilling sites are left in the Permian?
  • 15 hours Gas Flaring
  • 7 hours Liberal Heads Explode as U.S. Senate Confirms Oil Lobbyist David Bernhardt as Interior Secretary
Alt Text

Oil Hits 2019 High On Iran Sanctions

Trump’s decision to not extend…

Alt Text

The Firm Floor Under Oil Prices

The continued slowdown of US…

Alt Text

Why This Rally In Oil Won’t Last

Oil prices rallied on the…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Trending Discussions

Iran’s Crude Exports To Fall Of A Cliff In November

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.

Then in September crude exports reached a brand new five-year-high of 2.14 million bpd.

Although Iran’s total crude oil exports are expected to drop to below 2 million bpd in November, tanker schedules show that exports to Asia next month would be 1.46 million bpd, an increase of 74,000 bpd from October. Exports to China are projected to surge 35 percent monthly in November to 609,000 bpd. Crude oil loadings to India will be 581,000 bpd.

Europe-bound exports, however, are expected to drop to 433,000 bpd in November from 613,000 bpd in October.

According to the Reuters source, in November, Iran would also ship around 2 million barrels of crude oil to its offshore storage facility.

Iran’s production has successfully reached the 4-million-bpd mark, according to Ali Kardor, the managing director of the National Iranian Oil Company (NIOC). The country has always said that it had hoped to reach pre-sanction levels of production, and maintains that it should be exempted from the much-discussed proposed production cuts within OPEC.

Iran has also joined Iraq and Venezuela in questioning the way OPEC calculates production levels. Even if the dispute over OPEC data were the only bone of contention, it would threaten to derail a possible deal.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




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