FACTBOX: US Imposes Sanctions on Iranian Crude Exports – S&P Global Platts

US sanctions against Iranian crude exports went back into effect Monday, although top buyers of Iranian crude were given temporary waivers until May, when they will be expected to cut purchases significantly.

Oil prices climbed Monday as the sanctions kicked in, but price increases were limited by the waivers, and by increased production from OPEC and its partners.

US sanctions are expected to bring Iranian crude exports down to 1.1 million b/d in November, and 850,000 b/d in the fourth quarter of 2019, down from an average of 2.686 million b/d in April and May, according to S&P Global Platts Analytics…

 

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