The Vienna talks keep Iran’s oil exports above 2020 levels

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Two assessments showed that crude oil exports Iranian They remain at high levels since the beginning of April compared to last year, adding to signs of a recovery in shipments as progress is made in talks aimed at reviving the 2015 nuclear deal.

Tehran’s oil exports have increased since late 2020, despite the tightening of US sanctions during the tenure of former US President Donald Trump. The Biden administration took office in January, vowing to revert to the nuclear deal between Iran and world powers, from which Trump withdrew.

He continues The oil sector Close the level of Iranian exports, which may affect the balance market Global if it rises quickly. Other OPEC producers have previously cut supply to cushion the price impact of higher Iranian oil exports.

Petro-Logistics, based in Geneva, told “Reuters” that exports have decreased since the beginning of April on a monthly basis to about 500 thousand barrels per day, but are high compared to 2020. The company had initially set March exports at less than 600 thousand barrels. Daily.

Daniel Gerber, chief executive of Petro-Logistics, said: “Exports have continued at these high levels for longer than we expected. With the constructive talks going on in Vienna, we may never see a return to the low 2020 levels.”

Talks between Tehran and world powers, aimed at returning Iran and the United States to abide by the nuclear deal, have been going on since early April and will resume next week on the basis of progress made so far.

A source at another company that tracks Iranian shipments said that exports in the first two weeks in April appeared to be slightly below 500,000 barrels per day, down from 600,000 barrels per day in March, but the number may be revised.

There is no specific number for Iranian exports. Petro-Logistics and other companies are evaluating them by tracking tanker shipments. Tankers can be tracked by satellite, but this feature can be turned off, and schedule adjustments and cargo transfers between ships complicate the task.

Lifting US sanctions would theoretically allow Iran to increase crude exports again to 2.5 million barrels per day, a rate last recorded in 2018 when Trump withdrew from the nuclear deal. Exports declined sharply in some months of 2020, reaching 100,000 and 200,000 barrels per day.

Dealers, analysts and tanker trackers reported that China had received more Iranian crude in the past few months. Iran says the documents are forged, to conceal the origin of its shipments and circumvent US sanctions.

(Reuters)





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