While the Saudi’s continue to cut and extend their cuts, Iran is pumping exports at an increasing pace.
Gulf media (Al Arabiya) reported over the weekend, citing the head of Iran’s Plan and Budget Organization:
- “ the government aims at exporting 1.4 million oil barrels per day, an objective which has now been surpassed thanks to the Oil Ministry’s efforts”
This is still short or Iranian exports prior to the re-imposition of US sanctions in 2018. Iranian oil exports then were about 2.8 million barrels per day.