Iran: Exports could drop by 1 MMBOPD by year-end

[dan_s]

OilPrice.com: Sanctions on Iran begin

The Trump administration moved to implement sanctions on Iran this week, a decision announced months ago. The first round of sanctions applies to the sale of U.S. dollars to Iran, the purchasing of Iranian sovereign debt, Iran’s automotive industry and the trade in precious metals. The oil-related sanctions will take effect in November, and analysts expect countries to begin cutting their imports from Iran with that deadline now only three months away. Estimates on outages vary, but many analysts expect the losses to top 1 mb/d.

Amrita Sen of Energy Aspects said oil could hit $90 by the end of the year.