Economics
Iran Is Peddling a Million Barrels of Oil Again. No One Wants It
- Efforts to sell crude to domestic investors have languished
- Iran is bracing for further U.S. sanctions on its oil industry
A crew man secures oil drums on the deck near Kharq Island, Iran.
Photographer: Ali Mohammadi/BloombergThis article is for subscribers only.
An Iranian exchange has offered investors as much as 6 million barrels of oil so far this year. Only a single deal closed, for the minimum 35,000 barrels.
Iran’s oil production and exports have slumped after the U.S. reinstated sanctions last year, and new curbs are set to further restrict its exports. Exemptions for importing countries including Japan, China, Turkey, India and South Korea have partially cushioned the blow.