Economic news

Iranian foreign sales of crude likely to decrease

Volumes of exported oil and condensate by Iran are about to show a decline to less than 70 mln barrels this month, which hasn’t happened from April of last year, much earlier than the start of the second wave of U.S. sanctions on November 4.

Photo: Reuters

Buyers of Iran’s crude were called on by the U.S. to drive purchases to naught from November so as to compel Iranian administration to begin talks on another nuclear deal and to diminish its role in the region.

The National Iranian Oil firm has established the largest discount for next month’s Iranian Heavy oil from 2004 to retain clients, Reuters data together with trade information show.

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