Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
President Donald Trump's decision to tear up the Iran nuclear deal and reimpose sanctions on buyers of its oil will have a big impact on Iran's crude exports, but don't expect it to imperil the output deal among OPEC and its friends.That calculation could quickly change in the event of a big drop in Iran's exports as a result of sanctions.OPEC has a long history of operating when one or more of its members suffers international sanctions.It also isn't clear if the sanctions may also be applied to Iran's condensate exports, which the Obama administration had exempted, but not specifically excluded, from trade restrictions.Applying the 20-percent rule to the 2.82 million barrels a day of crude and condensate Iran exported in April suggests that we could see more than 560,000 barrels a day removed from the market by November, if all buyers seek to comply with U.S. demands.
FOLLOW THIS ARTICLE