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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iran 's economy is resorting to new methods of selling oil away from sanctions

    Rocky
    Rocky
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     Iran 's economy is resorting to new methods of selling oil away from sanctions Empty Iran 's economy is resorting to new methods of selling oil away from sanctions

    Post by Rocky Wed 18 Jul 2018, 3:08 am

    [size=32]
    Iran 's economy is resorting to new methods of selling oil away from sanctions[/size]
     Iran 's economy is resorting to new methods of selling oil away from sanctions 368

     Twilight News    

     2 hours ago




    (Reuters) - Iran can put new methods to sell its oil to bypass US sanctions as US pressure to curb Iran's exports rises, First Vice President Ishak Jahangiri said.
    According to the Oil Ministry's website, "Shana", Tuesday, Jahangiri described US efforts to reduce Iran's oil exports to zero as "delusion." The Iranian official did not specify how his country would sell its oil.
    "They think they can stop Iranian oil exports, the whole world needs Iranian oil, and we can always develop methods to sell our oil," he said.
    On May 8, US President Donald Trump announced a withdrawal from an agreement restricting Iran's nuclear program for peaceful uses in return for lifting Western sanctions.
    As of November 4, sanctions on oil dealings with Tehran will begin after the US withdrawal from Iran's nuclear deal. The State Department said it aimed to reduce Iranian oil exports from oil to zero under sanctions.
    The average daily production of Iran from crude oil, about 3.8 million barrels per day, according to "OPEC" and the volume of exports 2.3 million barrels.
    "It is impossible for a country to stop Iran's oil sales," Iranian government spokesman Mohammad Baqir Nobkhat told a news conference today, describing the statements of those responsible for the tarnishing of Iranian oil sales as "ridiculous."
    In the meantime, US investment bank Goldman Sachs expects short-term volatility in oil prices due to uncertainty over the possibility of some supplies being disrupted, as global benchmark crude is trading Brent crude in the range of $ 70- $ 80 a barrel.
    Oil prices fell sharply in the past week as the US-China trade war escalated, and prices were below $ 72 a barrel yesterday, not far from their lowest level since mid-April.
    "The disruption of production and large changes in supplies, driven by US political decisions, are driving the new fundamental volatility, while demand remains strong so far," the bank said in a note according to Reuters, referring to Washington's efforts to stop Iran's oil exports.
    "These changes in production, combined with the steady rise in Saudi production, are creating risks that the oil market will move towards a surplus in the third quarter of 2018."
    In the midst of attempts to clamp down on Iranian oil, US production is expected to rise from seven major rocky areas by 143,000 bpd to a record 7.47 million bpd in August, according to the US Energy Information Administration's monthly report released on Monday.




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