Don’t Jask, don’t get

摘要

Iran should be able to quickly increase oil exports once sanctions are lifted because of ample volumes of crude and condensate built up in storage, but it would take 6-9 months to restore pre-sanctions output. Tehran said on 22 July that it began operations from its new crude export terminal at Jask, outside the strait of Hormuz. Jask’s 1mn b/d capacity will provide an alternative to Kharg island, from where Iran exports most of its crude. That Iran continues to export crude at all is a repudiation of Trump’s 'maximum pressure' approach, which was supposed to have driven Iranian shipments to zero. Iran’s exports to China shot up to a high of 750,000 b/d in March, but Beijing’s recent crackdown on crude imports by independent refiners has caused demand to drop.