Iran Cuts Fuel Oil Exports as Domestic Demand Rises in Winter

Iran reduced fuel oil exports by two-thirds to meet rising demand from domestic power plants in the winter, according to an official at National Iranian Oil Co.

The country has been exporting about 200,000 metric tons a month of 280-centistoke and 380-centistoke grades since October and the volume is unlikely to increase until the end of January, said the official, who asked not to be identified because of company rules. That’s down from 600,000 tons a month of overseas sales earlier this year.

Iran is still shipping fuel oil abroad to meet its obligations under international contracts, and most exports are delivered within the Persian Gulf, said the official.

To contact the reporter on this story: Winnie Zhu in Singapore at wzhu4@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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