• 3 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 7 minutes Saudi and UAE pressure to get US support for Oil quotas is reportedly on..
  • 11 minutes China devalues currency to lower prices to address new tariffs. But doesn't help. Here is why. . . .
  • 15 minutes What is your current outlook as a day trader for WTI
  • 4 hours Domino Effect: Rashida Tlaib Rejects Israel's Offer For 'Humanitarian' Visit To West Bank
  • 5 hours In The Bright Of New Administration Rules: Immigrants as Economic Contributors
  • 24 hours Will Uncle Sam Step Up and Cut Production
  • 6 hours Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House
  • 5 hours Movie Script: Epstein Guards Suspected Of Falsifying Logs
  • 13 hours Gretta Thunbergs zero carbon voyage carbon foot print of carbon fibre manufacture
  • 3 hours Continental Resource's Hamm (Trump Buddy) wants shale to cut production.Can't compete with peers. Stock will drop in half again.
  • 2 days Significant: Boeing Delays Delivery Of Ultra-Long-Range Version Of 777X
  • 5 hours US Petroleum Demand Strongest Since 2007
  • 21 hours NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel
  • 3 days I think I might be wrong about a 2020 shakeout
  • 2 days Why Oil is Falling (including conspiracy theories and other fun stuff)
  • 52 days To be(lieve) or Not To be(lieve): U.S. Treasury Secretary Says U.S.-China Trade Deal Is 90% Done
Gas Flaring “Running Rampant” In The Permian

Gas Flaring “Running Rampant” In The Permian

Gas flaring in the Permian…

Trump Pushes Venezuela To The Brink

Trump Pushes Venezuela To The Brink

The Trump administration has initiated…

U.S. Tells Iran’s Oil Customers Not To Expect New Waivers

oil tankers

Iran’s oil customers should not expect new U.S. waivers in May, the U.S. Special Representative for Iran, Brian Hook, said this week, urging buyers to stop importing Iranian oil.

“What we have announced is the policy to get to zero imports of Iranian crude as quickly as possible. We are not looking to grant any future waivers or exceptions to our sanctions regime, whether it is oil or anything else,” Hook told Japanese public broadcaster NHK while on a visit to Japan.

When it re-imposed sanctions on Iran last November, the U.S. granted waivers to eight countries so they could continue purchasing oil from Iran at reduced rates until early May 2019. 

Some of those buyers, including the four major Asian buyers of Iranian oil—China, India, Japan, and South Korea—have recently resumed buying limited volumes of Iranian crude oil, after a period of around a month and a half in which they had to clarify how much and under what conditions they would purchase oil from Iran.

Earlier this week, Iran criticized Italy and Greece for not buying Iranian oil despite the fact that they had obtained waivers to do so.

The U.S. Administration has not officially said that no waivers will be issued, but officials have said that the goal is to drive Iranian exports to zero. Analysts, however, believe that there will be a direct correlation between the U.S. Iran waivers policy and the price of oil at the time Washington decides.

Despite the fact that the U.S. is not looking to grant any waivers to Iranian oil customers when the current ones expire in early May, it shouldn’t be taken for granted that no waivers will be issued, Hook and analysts hinted last month. 

“We did not want to lift the price of oil, and we were successful doing that. So when the president left the deal it was trading at $74. When our sanctions went back into effect, and we had taken off a million barrels of Iranian crude, oil was at $72,” Hook said at Atlantic Council’s 2019 Global Energy Forum in Abu Dhabi in mid-January. 

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play