Iran’s Collapsing Oil Exports Squeeze Global Refiners And Threaten Hormuz Disruption
12 Articles
12 Articles
Iran ' s crude oil charges to the tankers fell to zero last September, after reaching some 250,000 barrels per day in Abb, in the most recent indication of the extent to which the United States naval blockade of Tehran ' s vital access to energy markets was narrowed.
Iran’s Collapsing Oil Exports Squeeze Global Refiners And Threaten Hormuz Disruption
China’s rebounding crude demand is running headlong into a sharp decline in Iranian oil supplies, creating intense competition for replacement barrels across global markets. Independent refiners, who had grown reliant on deeply discounted Iranian crude, are now being forced to seek out costlier long-haul alternatives from other producing regions. The shift is hitting profit margins […]
In September, Iran did not load any tankers with oil, the first such incident since the outbreak of the conflict between Tehran and Washington, reporting Bloomberg with reference to its own data.
(Cairo=Yonhap News) Correspondent Kim Sang-hoon = Bloomberg reported on the 1st (local time) that Iran was unable to load any crude oil onto tankers last month due to the aftermath of the U.S. naval blockade.
As shipments of Iranian oil to China, the largest buyer, have sharply declined, Beijing's recovering demand has sparked new competition in the global oil market. Chinese refineries are turning to alternative suppliers, and declining Iranian export revenues pose a new risk to oil flow through the Strait of Hormuz.
Coverage Details
Bias Distribution
- 60% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
