• 4 minutes US-backed coup in Venezuela not so smooth
  • 7 minutes Why Trump will win the wall fight
  • 11 minutes Oil imports by countries
  • 13 minutes Maduro Asks OPEC For Help Against U.S. Sanctions
  • 3 hours Climate Change: A Summer of Storms and Smog Is Coming
  • 7 hours Itt looks like natural gas may be at its lowest price ever.
  • 1 hour Venezuela: Nicolas Maduro closes border with Brazil
  • 4 hours Teens For Climate: Swedish Student Leader Wins EU Pledge To Spend Billions On Climate
  • 7 hours Tension On The Edge: Pakistan Urges U.N. To Intervene Over Kashmir Tension With India
  • 12 hours North Korea's Kim To Travel To Vietnam By Train, Summit At Government Guesthouse
  • 16 hours Amazon’s Exit Could Scare Off Tech Companies From New York
  • 7 hours students walk out of school in protest of climate change
  • 1 day Washington Eyes Crackdown On OPEC
  • 24 hours Europe Adds Saudi Arabia to Dirty-Money Blacklist
  • 19 hours America’s Shale Boom Keeps Rolling Even as Wildcatters Save Cash
  • 5 hours Mineral rights owners,
Alt Text

Is This The Tipping Point For Electric Vehicles?

A new report suggests that…

Alt Text

An Underestimated Niche In Oil & Gas

Decommissioning obligations in the global…

Alt Text

How Long Will This Oil Rally Last?

Oil prices have been trading…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing for news outlets such as iNVEZZ and…

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