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Iran Oil Waivers: How Buyers Are Lining Up After U.S. Exemptions

  • Turkey gets waiver to buy 25% of the barrels it bought in 2017
  • Three big Asia buyers can between them get 860,000 barrels/day
Gas flares burn from pipes aboard an offshore oil platform in the Persian Gulf's Salman Oil Field, operated by the National Iranian Offshore Oil Co., near Lavan island, Iran.
Photographer: Ali Mohammadi/Bloomberg
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Armed with waivers to keep importing Iranian oil without running afoul of U.S. sanctions, some of the Islamic Republic’s top customers are preparing to buy.

The exemptions mean at least some supplies from OPEC’s third-biggest producer will keep flowing into international markets, after its exports plunged almost 40 percent since April -- the month before Washington announced the curbs. In a bid to keep customers, the state-run National Iranian Oil Co. has been offering record discounts on its crude.