Iran bitumen 60/70 price
As the title shows, the Iran bitumen 60/70 price is the subject of the
current article. Hope you find it useful. While Berkeley, head of the Vienna
Office of Energy Studies, claims that buyers of Iranian oil have become bolder
and that Iran is slowly entering the global oil market, Soleimanpour,
an energy expert, says Iran’s oil exports have risen to over 2 million barrels a day.
In fact, it is possible only with the lifting of economic sanctions. Market;
Energy Group: Black Gold, which had been declining ahead of a meeting
between OPEC and its allies, rose again after announcing that production
would remain stable in April. Respectively, oil is now on the verge
of $70 and hopes have risen for prices to rise again.
Iran bitumen 60/70 price and the recent events
But , Some analysts say that with the start of widespread vaccination around the
world, global oil demand will increase in the short term. Others are
talking about the possibility of raising oil prices to $100. However, the question
is whether this increase in demand can help increase Iran’s share of
global markets. Fereydoun Berkeshli, head of the Vienna Office of Energy
Studies, believes that Iran is slowly and quietly entering the global oil market. In other words, he tells the market that buyers have become more daring to
buy oil from Iran and that this could increase Iran’s share of world markets.
As a matter of fact, Javad Soleimanpour analyzes the energy market,
of course, considers the return of Iranian oil to world markets conditional on
the lifting of economic sanctions against Iran. “According to forecasts,
we expect global oil demand to increase by about 3 to 4 million barrels over
two years after the corona pandemic,” he told the market. Nevertheless,
it is not a good idea for Iran to be able to quickly improve its share of the
world market due to this increase in consumption.
According to him, the increase in consumption in the world market can not have a significant
impact on the growth of Iranian oil demand, but if they lift sanctions,
Iran can increase its oil exports to pre-sanctions levels.
Berkeley: During his presidency, Trump imposed 3,855 sanctions on companies, institutions, banks, individuals, directly or secondarily. On the other hand,
Biden has not sanctioned Iran to date, but a few days ago,
he sanctioned a Houthi leader.
Iran bitumen 60/70 price and the sanctions
Generally, it is unclear how many barrels Iran exports per day and how
much access it has to foreign exchange from its oil sales. Only Bijan Zanganeh told the media last month, after Joe Biden entered the White House,
that Iran’s oil exports had risen sharply. International media have reported
that Biden and the new US administration team, although they have not
yet lifted sanctions on Iran’s oil and banking, have no plans to impose
new sanctions on Iran and may not oppose an increase in Iranian oil exports.
“During his presidency, Trump imposed 3,855 sanctions on companies, institutions, banks, individuals … directly or secondarily,” said the head
of the Vienna Office for Energy Studies. Biden has not imposed sanctions
on Iran to date. Additionally, these are influential signs for the global oil market. Berkeley: Buyers have dared to buy oil from Iran, and this could increase
Iran’s share of world markets.
Buyers of Iranian oil and Iran bitumen 60/70 price became bolder
Hopes for the lifting of economic sanctions against Iran, on the one hand,
and rising demand, on the other, have led, according to Berkeley, to
“make more buyers of Iranian oil, and Iran will slowly regain its lost share
of the world market.” » Countries that stopped buying oil from Iran after
Also , US sanctions are now willing to buy from Iran. About a month ago,
the chairman of the board of directors of the state-owned Indian
Petroleum Corporation (HPCL) announced that Indian refineries would resume imports of Iranian oil if the United States eased sanctions against Iran.
In addition, India, the second-largest customer of Iranian oil after China,
has stopped importing Iranian oil since mid-2019 following the
tightening of sanctions by the administration of US President Donald Trump.
Iran bitumen 60/70 price and the USA sanctions
Needless to mention that there are about 550 refineries worldwide. According to available information, about 45 refineries in the world are capable of
producing Iranian oil. The demand for these refineries was in some way
during the sanctions period, and Iran did not produce them during this period. Of course, Iran is not too unemployed these days;
So that some media have reported about Iran contacting its old customers. “Iran has contacted its old customers in Asia to check their willingness to buy
oil if the US lifts sanctions,” Bloomberg reported. Informed sources told Bloomberg that the National Iranian Oil Company has talked to at least
But five Asian refineries to negotiate oil supply contracts if they lift sanctions. As it turns out, Iran’s return to world markets is dependent on the
imposition of economic sanctions.
The effect of increasing oil demand on Iran’s exports
Also , Soleimanpour says: “There are about 550 refineries around the world,
each of which is equipped with the characteristics of an oil.” According to available information, about 45 refineries in the world are capable
of producing Iranian oil.
According to the growth of the country’s foreign exchange earnings to
accompany him, the growth of demand of 3. Nevertheless, it is not a
good idea that this increase in demand will make it easier and more
likely to sell Iranian oil. This increase in demand cannot significantly help
Iran return to world markets. Our exports may increase slightly
in the short term, but they will be tiny.