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(New York Times) Farnaz Fassihi - The oil market's collapse because the global coronavirus clampdown has shriveled demand was an unanticipated blow for Iran, where the authorities have struggled to contain the worst coronavirus outbreak in the Middle East. While Iranian leaders have significantly lessened their dependence on foreign purchases of Iran's oil, it remains a basic industry for a country with OPEC's third-largest oil reserves. In March, one oil trader said, Iran's oil sales had dropped from 300,000 barrels a day to 80,000. 2020-04-28 00:00:00Full Article
Cheap Oil Poses New Quandary for Iran
(New York Times) Farnaz Fassihi - The oil market's collapse because the global coronavirus clampdown has shriveled demand was an unanticipated blow for Iran, where the authorities have struggled to contain the worst coronavirus outbreak in the Middle East. While Iranian leaders have significantly lessened their dependence on foreign purchases of Iran's oil, it remains a basic industry for a country with OPEC's third-largest oil reserves. In March, one oil trader said, Iran's oil sales had dropped from 300,000 barrels a day to 80,000. 2020-04-28 00:00:00Full Article
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