Tag Archives: Sanctions

Shipping to Iran and ports in the country are also coming under the US sanctions.

Transparency about spending would enable Libyans to see who is getting what from Libya oil.

Aramco has used the average of the Oman and Dubai crude prices assessed by Platts since the 1980s as a benchmark.

China and India as two major importers of Iran'.s oil do not care about the US oil sanctions.

According to IEA. Saudi Arabia will use its spare capacity which is predicted by as much as 2 million barrels per day.

U.S. crude oil is not on the list of 545 products the Chinese government has said it would immediately retaliate with in response to American duties.

Washington has warned other countries to end business in Iran and stop buying its oil from early November or face punitive measures.

OPEC and Russia and other producers last month agreed to add 1 million barrels to the market.

Production has plummeted by about 850.000 barrels per day (bpd) from little more than one million bpd.

Iranian officials have said that key for them is to ensure measures that guarantee oil exports do not halt.