Iran Sanctions Fuel OPEC Tensions - Bloomberg:
Two months before renewed U.S. sanctions on its oil exports take effect, Iran has already suffered a sharp drop in sales and lost key buyers in Asia and Europe.
That slump will continue in coming weeks. Meanwhile, rising output from other OPEC members is fueling tensions within the producer group that could come to a head at a meeting in Algeria later this month.
Iran exported just over 2 million barrels a day of crude oil and condensate (a light form of crude extracted from gas fields) in August, according to Bloomberg tanker tracking. That is the lowest since March 2016, and down 28 percent from April, the last month before President Donald Trump announced that he was withdrawing from the Iran nuclear deal and reimposing sanctions.
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