IRAN

 

EU Sanctions Hit Iran Crude, No Reprieve For Tanker Insurance

Iranian crude exports have been hit by sanctions and further measures that were being implemented as MEES went to press threaten to cut them further. Production was already down at 3.32mn b/d in May from 3.65mn b/d at the end of last year, according to MEES estimates. However, much of this has gone into storage and with the country’s storage almost full, shutting off of its export routes will have an even more...