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Commodities Briefing - Categorized | Market Moves, Oil more

IEA sees Iran oil sales falling as sanctions bite

Posted on 14 February 2013

Iranian oil output will likely fall further from its lowest in three decades as the West tightens sanctions on the Islamic Republic, depriving Tehran of hard currency revenues, the International Energy Agency (IEA) said on Wednesday.
The IEA, the West’s energy agency, said in its monthly report that preliminary data suggested Iran’s exports could have fallen below 1 million barrels per day (bpd) in January due to lower Chinese and South Korean purchases after a rebound in December to 1.56 million bpd………………………………………..Full Article: Source


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