EU embargo already hurting Iran oil exports
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Storage facilities and anchored tankers are close to saturation as Iran tries to avoid cutting production from its oil fields, several foreign experts in Tehran say
THE EU embargo on Iranian crude due to come fully into effect on Sunday, on the heels of further US sanctions, has already bitten deeply into the Islamic republic’s all-important oil sector. Despite official denials, Iran oil exports have plummeted some 40 percent in the past six months, to 1.5 million barrels per day (mbpd), according to the International Energy Agency (IEA). (AFP)
