Commodities
Iran’s Booming Oil Exports Are Poised to Slow for Rest of Year
- Shipments are likely to ease with seasonal dip in China demand
- Tehran has been boosting shipments following diplomacy with US
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Iran’s oil exports, which have been rising following secret diplomacy with the US, are likely to have peaked for this year as demand in Asia wanes with the end of summer, according to people with knowledge of the country’s sales.
The Islamic Republic has found new buyers in smaller private refiners in China looking for supply following OPEC+ production cuts, the people said, asking not to be identified because the information is private. But seasonal maintenance at plants is likely to crimp demand, they said.