{"id":1386,"date":"2017-10-25T13:04:30","date_gmt":"2017-10-25T13:04:30","guid":{"rendered":"http:\/\/madaresharghi.com\/iran-iraq-battle-for-crude-market-share\/"},"modified":"2017-10-25T13:04:30","modified_gmt":"2017-10-25T13:04:30","slug":"iran-iraq-battle-for-crude-market-share","status":"publish","type":"post","link":"https:\/\/madaresharghi.ir\/en\/iran-iraq-battle-for-crude-market-share\/","title":{"rendered":"Iran, Iraq Battle for Crude Market Share"},"content":{"rendered":"

madaresharghi<\/a>
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\tIraq and Iran boosted crude exports in September, taking advantage of a slower pace of shipments from the rival Saudi Arabia to win buyers in key markets like China and the US.
\tIran shipped 2.28 million barrels of crude a day, the highest since December, while Iraq\u2019s exports rose to 3.98 million barrels a day, the most since February, according to ship-tracking data compiled by Bloomberg.
\tSaudi Arabia\u2019s exports were 6.68 million barrels a day, the second-lowest for this year, the data show.
\tIran and Iraq\u2019s moves to grab market share cast a light on internal tensions within OPEC, as Saudi Arabia, the group\u2019s de facto leader and world\u2019s top oil exporter, works to rebalance the global market.
\t\u201cIran and Iraq are both very opportunistic in selling into markets where buyers are no longer getting the same Saudi volumes,\u201d said Richard Mallinson,\u00a0an oil analyst at Energy Aspects Ltd. in London.
\t\u201cWe have seen Saudi Arabia\u2019s exports lower over the last several months, which is consistent with their focus on the rebalancing process.\u201d
\t“In Iran, I am expecting production to keep creeping up in the coming months and that exports will be up slightly,” said Robin Mills, chief executive officer of Dubai-based consultant Qamar Energy.
\t\u201cI do see them taking market share slowly from the Saudis, if the Saudis hold steady on their production cuts.\u201d
\tIran and Iraq will have to fight to keep their gains. Both are subject to the Organization of Petroleum Exporting Countries\u2019 production caps and while they are working to raise output capacity, they are already pumping at or close to their limits.
\tMallinson said their efforts to win market share will not put OPEC\u2019s production cuts at risk. Iran, still facing some US restrictions on financing, is seeking investment and technology to raise output.<\/p>\n

\t\u00a0 China’s Market
\tFarther east, Iran is gaining on Saudi Arabia in crude sales to China.
\tThe difference between China\u2019s imports of Saudi oil and Iranian crude is at an eight-year low, according to customs data from the East Asian country.
\tSaudi Arabia shipped 833,000 barrels of crude a day to China in September compared with 600,000 barrels a day from Iran.
\tOPEC\u2019s third-largest producer has ramped up output and doubled exports since sanctions on its energy industry were eased in January 2016.
\tOnce the OPEC deal expires, Saudi Arabia will be able to pump more oil and potentially return to the record level of 10.7 million barrels a day it reached in July 2016.\u00a0Saudi exports usually dip in the kingdom\u2019s summer months, as domestic demand rises and then increase as the weather cools.
\tOPEC is to meet in November to discuss a possible extension of the deal beyond March.
\tAccording to Mallinson, improving demand may mean there is room for all in the market when the deal is over.
\t\u201cWe are seeing a market shift as stockpiles begin to clear and there will be more demand,\u201d\u00a0the Energy Aspects analyst said. \u201cThere should not be a problem in placing barrels when OPEC does resume full production after the current cuts end.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

madaresharghi Iraq and Iran boosted crude exports in September, taking advantage of a slower pace of shipments from the rival Saudi Arabia to win buyers in key markets like China and the US. Iran shipped 2.28 million barrels of crude a day, the highest since December, while Iraq\u2019s exports rose to 3.98 million barrels a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,8],"tags":[639],"yoast_head":"\nIran, Iraq Battle for Crude Market Share - madaresharghi | An Analytical Look at Middle Eastern Developments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/madaresharghi.ir\/en\/iran-iraq-battle-for-crude-market-share\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iran, Iraq Battle for Crude Market Share - madaresharghi | An Analytical Look at Middle Eastern Developments\" \/>\n<meta property=\"og:description\" content=\"madaresharghi Iraq and Iran boosted crude exports in September, taking advantage of a slower pace of shipments from the rival Saudi Arabia to win buyers in key markets like China and the US. Iran shipped 2.28 million barrels of crude a day, the highest since December, while Iraq\u2019s exports rose to 3.98 million barrels a […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/madaresharghi.ir\/en\/iran-iraq-battle-for-crude-market-share\/\" \/>\n<meta property=\"og:site_name\" content=\"madaresharghi | An Analytical Look at Middle Eastern Developments\" \/>\n<meta property=\"article:published_time\" content=\"2017-10-25T13:04:30+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"3 minutes\">\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/#website\",\"url\":\"https:\/\/madaresharghi.ir\/en\/\",\"name\":\"madaresharghi | An Analytical Look at Middle Eastern Developments\",\"description\":\"madaresharghi | An Analytical Look at Middle Eastern Developments\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/madaresharghi.ir\/en\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/iran-iraq-battle-for-crude-market-share\/#webpage\",\"url\":\"https:\/\/madaresharghi.ir\/en\/iran-iraq-battle-for-crude-market-share\/\",\"name\":\"Iran, Iraq Battle for Crude Market Share - madaresharghi | An Analytical Look at Middle Eastern Developments\",\"isPartOf\":{\"@id\":\"https:\/\/madaresharghi.ir\/en\/#website\"},\"datePublished\":\"2017-10-25T13:04:30+00:00\",\"dateModified\":\"2017-10-25T13:04:30+00:00\",\"author\":{\"@id\":\"https:\/\/madaresharghi.ir\/en\/#\/schema\/person\/c52e345120843d5f259215c4e809cdd2\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/madaresharghi.ir\/en\/iran-iraq-battle-for-crude-market-share\/\"]}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/#\/schema\/person\/c52e345120843d5f259215c4e809cdd2\",\"name\":\"administrator\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/madaresharghi.ir\/en\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/901309319175b0d219e688b01909d220?s=96&d=mm&r=g\",\"caption\":\"administrator\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/posts\/1386"}],"collection":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/comments?post=1386"}],"version-history":[{"count":0,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/posts\/1386\/revisions"}],"wp:attachment":[{"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/media?parent=1386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/categories?post=1386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/madaresharghi.ir\/en\/wp-json\/wp\/v2\/tags?post=1386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}