Iran sanctions threat boosts crude

Oil has rallied more than 15 percent since mid-August – close to its year high of $80 a barrel – driven by the reintroduction from November 2018 of U.S. sanctions tied to Iran’s nuclear programme


Iran oil exports (million barrels per day)	Brent crude ($/barrel)

Jan 3.83
Jan 2: $66.65
Jan 12, 2018: President Donald Trump waives U.S. sanctions against Iran for 120 days

Feb 2.41
Feb 13: $61.94

Mar 2.35

Apr 2.70

May 2.42
May 8: U.S. re-imposes secondary sanctions on any country that buys Iran’s oil from November
May 22: $80.42

Jun 2.49

Jul 2.32

Aug 2.06
Aug 15: $68.38

Sep
Sep 4: $78.67


Jan 
Oil imports from Iran*
CHINA 630,380b/d

INDIA 550,000b/d

Aug
CHINA 615,600b/d

INDIA 203,900 b/d


*China and India are Iran’s biggest oil markets


Sources: S&P Global Platts, Forbes, Reuters
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