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U.S. ‘zero Iranian oil’ plan: A fantasy doomed to failure

“The IEA data implies that most of the Iranian oil [which is going to be cut!] is expected to be offset by Saudi oil” reports These days, the most important issue among the oil traders is estimating the magnitude of the effect of U.S. sanctions on Iranian oil exports.So far we discussed how much the U.S. plan for zeroing Iranian crude oil revenues is close to reality considering the position of Iranian oil buyers, now the second and more important aspect to take into account is the global oil market’s supply and demand situation.The first aspect concerns the export destinations of the Iranian crude oil, will they all comply with the U.S. imposition, despite their own national interests?. In a nutshell, The United States is aiming to cut all Iran’s crude oil exports, starting from November.

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