The Latest from Iran (7 December): Maintaining the Oil Squeeze
Friday, December 7, 2012 at 22:12See also The Latest from Iran (6 December): "We're Still Winning"
2210 GMT: Oil Watch. An industry source claims Iranian oil exports will fall to a new low of 834,000 barrels per day in December.
This would be a sharp drop from Iran's October figure of 1.3 million barrels per day and a declinemore than 60% from last year's level of 2.2 million bpd.
Iran's recorded low this year was 860,000 barrels per day in the summer.
2200 GMT: Sanctions Watch. We return to our opening entry (see 0720 GMT) of the extension of US waivers from financial sanctions for those countries which reduce imports of Iranian oil.
The State Department announced further six-month extensions for nine countries tonight. As expected, waivers for renewed for India, South Korea, and Turkey before next Tueday's expiration. The US also acted now rather than waiting for the deadline later this month for China, Malaysia, Singapore, South Africa, Sri Lanka, and Taiwan.