Sanctions choke Iran's crude sales, but oil product exports booming

While U.S. sanctions on Iran's oil industry have slashed the OPEC member&#0...

LONDON - While U.S. sanctions on Iran’s oil industry have slashed the OPEC member’s crude exports by more than 80%, oil product sales from the Islamic Republic remain strong at nearly $500 million a month, shipping data and Reuters calculations show.

Iran’s product exports reached their highest level in August, oil minister Bijan Zanganeh was quoted as saying by a lawmaker after a parliamentary meeting on Aug. 27. “In exports of products we have no problem,” Zanganeh was cited as saying. “The irony is: if not for the U.S.-China trade war, the U.S. would have greatly benefited from this uptick in Chinese demand as a means of mopping up its overabundance of LPG supplies, thanks to shale,” she added.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Reuters /  🏆 2. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. engages in threats to stop Iran oil sales to traditional clients: ZarifIran's foreign minister accused the United States on Twitter on Saturday of...
Read more »

Rising Iran tensions could destroy the bear case for oil, RBC's Helima Croft suggestsRising Iran tensions could destroy the bear case for oil, RBC's Helima Croft suggests (via CNBCFuturesNow)
Read more »

Official warns Iran can take 'strong step' away from dealTEHRAN, Iran (AP) — Iran's government spokesman is warning that Tehran will 'take a strong step' away from its 2015 nuclear deal with world powers if Europe doesn't offer the country new terms by...
Read more »

After Trump tweeted out an image from a secret intelligence briefing to mock Iran, a top Iranian official trolled the president with a 'good morning' selfieThis isn't the first time that Azari Jahromi has taunted US President Donald Trump on Twitter. He once chastised the president over sanctions.
Read more »

U.S. engages in threats to stop Iran oil sales to traditional clients: ZarifIran's foreign minister accused the United States on Twitter on Saturday of...
Read more »