A weekend report on comments from a “senior official” in Iran. Bloomberg (gated) releases the report, quoting Mohsen Khojastehmehr, chief executive of the National Iranian Oil Co., he spoke to reporters on Saturday in Tehran.
- Iran has the capacity to double its oil exports if there is sufficient demand
Iran “will make maximum efforts to recover its crude oil market share and revive its customers”,
Iranian crude exports have fallen since previous US President Trump scrapped the Iran nuclear deal in 2018. Talks between the European Union and Iran on attempts to revive the deal are ongoing. I’ve been reporting on the negotiations for months and months, but they’re constantly at an impasse. We are getting positive and negative indications of the talks on a seemingly endless cycle. The resuscitation of the deal, if it materializes, will eventually bring more Iranian oil to market, over time.
Oil Price Update – Trading Resumes Monday Morning Asia Time/Sunday Evening US Time: