The Trump administration has cut down Iran’s crude exports more quickly than many expected, but just days before a White House deadline, it is still a long way from achieving its stated goal of zeroing out Iranian oil sales.
Iran’s oil exports have fallen by about a third in the five months through September. They tumbled by about 800,000 barrels per day since President Donald Trump announced in May he was abandoning a nuclear accord with Iran and restoring wide-ranging sanctions on its economy.
Still, Iran was selling roughly 1.7 million to 1.9 million bpd of crude oil and condensate, a super light form of oil, in September, according to estimates by investment banks, tanker-tracking firms and the International Energy Agency.
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