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Iran Oil Sanctions Will Hurt More than Before
(Bloomberg) Julian Lee - Under Obama, Iran's crude and condensate exports fell by 1.2 million barrels a day over two years. Under his successor it looks like the decline will be bigger and faster, even without the political support of U.S. allies. It's easy to see another million barrels a day disappearing by November on top of the 430,000 barrels already lost. A halt in shipments to Europe, the UAE and Japan, and a halving of flows to India, would reduce Iranian exports by almost 1.5 million barrels a day over six months.