After US decision to withdraw from JCPOA and to reintroduce sanctions, Iran’s oil sector feels more pressure and uncertainty
Almost four years ago, after years of difficult negotiations, the Iran nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), was signed. Many viewed it as a diplomatic triumph, which ...
... Japan, and South Korea are the biggest importers of Iranian crude, and they were at the forefront to increase imports from Iran in 2016. The European market followed their lead. Bloomberg reported that in January 2017 European states
bought
600 thousand barrels of Iranian oil per day. No longer than a year ago, this figure was equal to zero.
Not only is Teheran boosting its exports to old, established clients, but it is also testing new export destinations. Thus, 2016 saw the first Iranian oil cargo
delivered
to Poland,...
Top Five Factors Affecting Oil Prices
The situation on the oil market is a cause for concern – members are worried, and increasingly asking questions: ... ... anxiety has chiefly been caused by the numerous unexpected events in July and August, which saw the lifting of sanctions against Iran, disappointment in the pace of growth in the Chinese economy, the situation in the Middle East, and OPEC member countries’ ...