India, Other Nations to Benefit From U.S. Waiver on Iran Oil Buys-Minister

[Cobra Arbok]

I don't see iran getting hurt with every country getting waiver. Lol


On spot. The waiver has been given to tame KSA but with Imran Khan offering as the negotiator I don't think KSA is going to play by trump rules now.

Only a handful of countries got waivers. And most of them are going to stop importing Iranian oil once they find an alternative. South Korea is a good example of this. India is one of the few that will continue buying oil permanently from Iran.

 

[Cobra Arbok]

• United States is the top oil-producing country in the world, with an average of 14.86 million b/d

• Saudi Arabia is also the king of oil production, contributing 12.39 million b/d

• Canada holds the fifth spot among the world's leading oil producers with average production of 4.59 million b/d

• Iraq

• UAE

• Brazil

• Kuwait

• Venezuela

• Nigeria

• Mexico

• Norway

https://www.britannica.com/science/petroleum/Major-oil-producing-countries

Trump and Republicans actually support invreasing domestic oil production for exactly this purpose. To sell more oil after sanctioning Iran. A lot of people do not know that in the Tax cuts bill passed last year, there was a provision that allowed oil drilling in the Arctic National Wildlife Wildlife refuge, a reversal of Obama-era regulations pfohibiting oil drilling in the Arctic.

 

[Aryan0395]

It is unrealistic to expect a country to be able to completely halt oil imports in a quick timeframe.

Thus they granted waivers and are expected to show another significant reduction in order to receive wishers the next time waivers expire.

Yeah reduction is "reduce to 2/3rd of current qty."

 

[TheImmortal]

Only a handful of countries got waivers. And most of them are going to stop importing Iranian oil once they find an alternative. South Korea is a good example of this. India is one of the few that will continue buying oil permanently from Iran.

• United States is the top oil-producing country in the world, with an average of 14.86 million b/d

• Saudi Arabia is also the king of oil production, contributing 12.39 million b/d

• Canada holds the fifth spot among the world's leading oil producers with average production of 4.59 million b/d

• Iraq

• UAE

• Brazil

• Kuwait

• Venezuela

• Nigeria

• Mexico

• Norway

https://www.britannica.com/science/petroleum/Major-oil-producing-countries

It’s not as easy as placing an order with anothe country.

Each country’s oil is unique in terms of composition. Importers have their refineries built to process A SPECIFIC type of oil. So you can’t magically swing a wand and change that overnight.