Insight
How much oil will Iran export in 2016?
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Report summary
Following the lifting of most economic sanctions in January 2016, Iran is now able to increase its oil production and exports to previous levels of 3.8 million b/d and 2.2 million b/d. The National Iranian Oil Company is determined to regain its lost market share, and will target both Asian and European customers. As a result, we do not expect the country to consider freezing production until it reaches full production capacity. Exports levels have increased significantly, but not as fast as many expected. The US primary sanctions, which remain in place, still present a challenge for companies trying to re-engage with Iran. Meanwhile, we believe fears over the country’s floating storage have been overstated.
Table of contents
- Introduction
- Iranian crude exports were heavily impacted by sanctions
- Iran is pursuing a market share strategy
- Are fears over Iranian crude in storage overstated?
- Crude exports have increased, but not as fast as many expected
- No apparent production bottleneck
Tables and charts
This report includes 3 images and tables including:
- Iran has lost market share in the last 5 years
- South Pars condensate production (2002-2018)
- Main importers of Iranian crude oil
What's included
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