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Iran's crude exports stay subdued in Jan despite waivers: sources
Iran will see its crude exports severely curtailed for a third month in January as it is struggling to find new buyers amid U.S. sanctions even though its traditional customers secured waivers, according to tanker data and industry sources. Iran’s crude exports in November plummeted as sanctions kicked in to below 1 million barrels per day (bpd) from regular sales of 2.5 million bpd in April, taking them back to where they stood during previous sanctions in 2012-2016. Buyers said plunging exports in November, which will severely hit the Islamic Republic’s budget revenues, were caused by a total lack of clarity of ... (full story)