Tag Archives: International Organizations

Iran is one of the world’s largest oil producing countries.

EIA reported Wednesday that crude supplies fell by 2.2 million barrels for the week ended May 4.

During the last round of sanctions. Iran'.s oil supplies fell by around 1 million barrels per day (bpd).

Ahead of official numbers. API data shows sizable declines in US crude inventories.

Trump’s decision ``also entails some economic policy challenges in the form of potentially higher oil prices.

After the last round of sanctions were announced in 2011. Saudi Arabia boosted its production.

The U.S. move threatens Iran with lower export income and less access to hard currency.

Imports for the first four months of 2018 rose 8.9 percent versus the same period a year ago to 151.43 million tonnes. or 9.21 million bpd.

Traders are also nervously awaiting Trump'.s decision on whether or not to continue with the Iran nuclear deal. which he has in the past derided.

U.S. output will likely rise further this year. towards or past Russia'.s 11 million bpd. as its energy firms keep drilling for more.