Iran’s oil exports drop ahead of US waivers decision

Iran’s oil exports so far in March are down from January and February to average around 1 million bpd-1.1 million bpd ahead of the US decision to extend or deny new waivers, Reuters reported Thursday.
This compares to around 1.3 million bpd estimated Iranian exports for February.
The US waivers for eight key Iranian oil customers, including China, India, Japan, and South Korea, expire in early May. While the US Administration says that it continues to pursue zero Iranian oil exports, analysts expect Washington to extend waivers to at least a few of the currently exempted buyers, with reduced volumes allowed under the new waivers, as the Administration wouldn’t want to push oil prices too high.

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