The above shows the latest stats on Iranian oil production. Although there is wide disagreement (ie uncertainty) in the exact level of Iranian production, there seems to be agreement that in the last six months it has stabilized at a level around 600kbd below where it was in the latter part of the previous decade. It no longer seems to be falling quickly, but nor has it recovered to the previous level.
The first Chinese oil tanker spotted in Iran since the embargo. I do not know just how significant this is but shouldn't the Chinese be getting a good deal, minus the insurance?
ReplyDeleteiran needs money, china needs oil, that how trade is going.
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