Iran reduces oil exports in March

Iran's oil and condensate exports should fall to a minimum in two years this month, since the charges for their major Asian buyers will drop by a third before the previous month, said a source with knowledge of the loading schedule Oil tanker in the country.

Global buyers are programmed to acquire 1,940,000 of barrels per day (bpd) of Iranian oil in March, fall of 21% compared to the previous month, said the source, who refused to be identified because the information is confidential. This is the smallest volume since March 2016.

Compared to the previous year, the March sales of Iran, the third largest producer of the Organization of Petroleum Exporting Countries (OPEC), should decrease 26%.

The decline is occurring despite the country's efforts to attract customers, including the reduction of official sales prices and an offer to increase shipping discounts to India.

Iranian exports in March should fall below the levels of last year for the third consecutive month. This should help OPEC to tighten the global offer, supporting the prices of the increase in the production of the United States.

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