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Lawmaker: Iran can eventually sell its oil
By Sadeq Dehqan & Farzam Vanaki
OPEC crude oil output shrinks in May: Survey
OPEC has so far avoided a bruising intra-bloc market share battle, with top exporter Saudi Arabia’s crude oil production falling to a four-and-a-half-year low in May, even as sanctions-hit Iran and Venezuela continue to see their output contract, an S&P Global Platts survey showed.
Japan remains Iran’s important oil client
Iran’s share in Japan’s oil market is about 4.7 percent, said Abolfazl Roghani Golpayegani, a member of the Iran-Japan Chamber of Commerce.
Iran plans deep cuts in reliance on oil income
Iranian Vice President Mohammad Baqer Nobakht said a new scheme to reduce the country’s reliance on oil revenues is expected to restrict the dependence on petrodollars to only 10 percent.
Inquiry into oil tanker attacks stops short of blaming Iran
An unidentified state actor has been blamed for attacks on four oil tankers in the Persian Gulf last month, according to an inconclusive inquiry that stopped short of pointing the finger at Iran.
Reduced Iran oil supplies badly hurt Asian refiners
Asian oil refiners are seeing their profits shrink from the loss of Iranian crude supplies after the US decided in April not to extend sanctions waivers for imports from Iran.
Safavi warns any clash in Persian Gulf would push oil prices above $100
US military vessels in the Persian Gulf are within range of Iranian missiles, a top military aide to Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei said on Sunday, warning any clash between the two countries would push oil prices above $100 a barrel.
Asia’s Iran oil imports hit 1.6 mbd in April
Asia’s Iranian crude oil buyers China, India, Japan and South Korea imported a total 1.62 million barrels per day (mbd) of crude from Iran in April, up 3.2 percent from the previous month to the highest since July, data from government and trade sources showed.
Japan’s April oil imports from Iran at 141,712 bpd: METI
Japan imported 141,712 bpd of crude oil from Iran in April before the expiry of US sanction waivers on May 2, according to data released Friday by the Ministry of Economy, Trade and Industry.
China’s oil imports from Iran jump 21% before US waiver removal
China’s crude imports from Iran jumped by a fifth last month before the US removed sanction waivers on oil purchases from the Middle Eastern country, Financial Times calculations show.
Media: India plans to resume Iran oil imports despite US ban
The Indian government is looking at ways to resume oil imports from Iran despite US sanctions which aim to dry up Iranian revenues, local media reported on Tuesday.
Iran stores more oil on land, at sea
Iran’s oil storage on land and at sea is on the rise as US sanctions on exports bite and Tehran battles to keep its fields operational and crude flowing, according to data and industry sources.
OPEC is poised to defy Trump once again by keeping a lid on oil output
Major oil-producing nations are leaning toward keeping a lid on production throughout 2019, defying President Donald Trump’s calls to open the taps and cut the cost of crude.
Oil edges up on Mideast tensions, supply outages
Oil prices rose on Tuesday on escalating US-Iran tensions and amid expectations that OPEC producers will continue to curb supply this year.

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