21 August 2022 - 16:30
The member of Tehran Chamber of Commerce, Industries and Mines proposed;

Traditional customers are ready to buy Iranian oil again

Despite that Iran has been away from global oil market for several years, returning to this arena has its own difficulties, but the country's market can be restored, member of Tehran Chamber of Commerce, Industries and Mines said.
News ID : 140020

IBENA – Before recent round of US sanctions, we had an acceptable presence in global oil market and our oil was purchased by various customers. But in the past years, unfortunately, possibility of being present in this arena disappeared and this caused some other oil sellers to take Iran's place in the market, Hamidreza Salehi stated.

He stated that if restrictions are lifted, it will probably take time for Iran's oil sales to reach its maximum again, and explained: According to initial estimates, after a short period of time, it is possible that Iran will sell between 1.2 million to 1 million and 500 thousand barrels of oil. After a few months, we can expect this number to reach 2.5 million barrels per day.

Iran's oil has had its stable and traditional customers for several decades, and these customers are definitely ready to buy our oil if the restrictions are removed. Of course, Iranian oil has been compensated with oil from other countries in past years, and it will probably take time for previous contracts to be completed and for customers to sign new contracts for Iranian oil.


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