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US likely to reduce number of Iran oil sanction waivers in May: Analysts

China, India, Japan, South Korea and Turkey are likely to be given waivers after they expire in May

Reuters  |  Singapore 

The United States is likely to extend waivers from sanctions on Iranian oil imports in May but will reduce the number of countries receiving them to placate top buyers China and India and to decrease the chance of higher oil prices, analysts said. Washington surprised oil markets after granting waivers to eight Iranian oil buyers when the sanctions on oil imports started in November. Benchmark Brent crude futures fell 22 percent that month and the waivers influenced the Organization of the Petroleum Exporting Countries' (OPEC) decision to agree in December to supply cuts starting ...

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First Published: Fri, January 18 2019. 09:45 IST
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