Oil exports from Iran expected at 2.09m bpd in Oct.

October 27, 2017

TEHRAN- Iran’s crude oil exports for October are set to stand at 2.09 million barrels per day (bpd), Reuters reported quoting a person with knowledge of the country's tanker loading schedule.

As reported, the country’s crude exports are set to fall 480,000 bpd from 2.57 million bpd in September.

However exports to Japan are set to jump 83 percent to 218,000 bpd in October from a month earlier, while shipments to top buyer China will rise two percent. India is set to overtake South Korea as the No.2 buyer, taking 377,000 bpd, the source said.

Earlier in September, National Iranian Oil Company (NIOC) announced that Shipments of condensate may cut by at least 1 million barrels in October due to a "technical problem" at the South Pars field, with maintenance work expected to take up to two months to complete. 

The preliminary schedule for October shows a decline of some 800,000 bpd from a six-year high of nearly 2.9 million bpd in February. 

Tehran have been regaining market share at a faster pace than analysts had projected since sanctions were lifted.

The OPEC producer aims to raise its output capacity to 4.7 million bpd by 2021, Amir-Hossein Zamaninia, Iran's deputy oil minister for trade and international affairs, said last week.

EF/MA

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