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All tagged oil prices
◢ A new report from TankerTrackers.com indicates that Iran exported an average 2.2 million bpd of crude oil in the first two weeks of October, a 10 percent rise from the September average. October’s higher export volumes could reflect long-standing customers buying more oil ahead of planned reductions in November, when sanctions are expected to prevent many refiners from taking Iranian crude.
◢ The president’s recent statement that OPEC may have something to do with the president’s own decision to create a crisis with Iran. While attention is duly paid to how much Americans have to pay at the pump, a more subtle and complicated story will soon play out with respect to Iran and the reapplication of US sanctions ordered by Trump on May 8, 2018. In fact, unless oil prices are contained, the primary result of the president’s action may be to ensure that Iran profits from the oil market risks that sanctions have created.
