The bad news of the hottest bulls said that Iran's

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Bad news for bulls! The news said that Iran's crude oil exports hit a five-year high

bad news for bulls! It is reported that Iran's crude oil exports hit a five-year high

September 18, 2016

[China paint information]

the bad news of the long oil market is coming! According to Reuters, sources said that Iran's crude oil exports soared to a five-year high in August, close to the level before sanctions five years ago

according to a source familiar with Iran's tanker loading plan, Iran's crude oil exports in August increased by 15% from July to more than 2million barrels/day, close to the export level of Iran before Western sanctions five years ago

since December, Iran's crude oil exports have more than doubled, excluding ultra light condensate

the economic sanctions against Iran were lifted in January this year. Since then, Iran has worked hard to regain the market share of other Middle East oil producing countries by giving up the ball impact testing machine for the previous four years

strong demand from Asia and Europe has increased Iran's crude oil production to slightly more than 3.8 million barrels per day as of this month, and the support capacity of static stiffness response shock absorber is still less than 4million barrels per day

Iran said that the oil production of 400/day was a prerequisite for the country to discuss with Saudi Arabia and Russia to limit production

the source said that according to the statistical data of the tanker shipping date table, excluding condensate, Iran's crude oil exports in August reached 2.11 million barrels/day, about double that of a year ago

last month's tanker shipment data also showed that Iran's crude oil exports in August were the highest since January 2012, driven by factors such as India's record high procurement and a 48% jump in sales to Europe to 630000 barrels/day

other sources who track Iran's shipping data or know Iran's tanker shipments have slightly different figures for Iran's crude oil exports in August, but still show that they have nearly doubled since January

"in the low oil price environment, the only way for oil producing countries to maximize revenue to meet budget requirements is to increase production," said Victor Shum, an oil analyst at IHS, a consultancy

"therefore, it is unlikely to reach a supply agreement at the end of September after turning on the power supply," he said. "We can expect that Iran will continue to increase production."

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