Iran exports about 92% of its oil to China, and Supreme Leader Khamenei has called for diversification of Iran's export markets
Supreme Leader Khamenei expressed concern on Sunday (September 7) about Iran's level of oil production and called for diversification of Iran's export markets. He said, "Our method of oil production is outdated, and our tools are also outdated... we are lagging behind many oil-rich regions in the world. Since the 2015 Iranian nuclear deal, Iran's oil industry has been under severe Western sanctions.
Khamenei called for "more dynamic" oil exports, emphasizing the need for a variety of customers, of course, China remains Iran's main buyer of oil.
According to Iranian media reports, about 92% of Iran's oil is sold to China, and it is usually sold at significant discounts.
Comments: Iran should be grateful to China, otherwise it would be difficult to find buyers for its oil exports. Iran also faces many challenges in achieving diversification of its oil export markets. On one hand, Western sanctions remain an important factor hindering Iran's oil exports, and other countries may be cautious about importing Iranian oil due to concerns about being subject to U.S. secondary sanctions. On the other hand, the price competitiveness of Iranian oil in the international market is relatively limited. Although it is usually sold at significant discounts to China, it may need to further reduce prices or offer more attractive cooperation conditions when opening up new markets. In addition, the infrastructure and transportation capacity of Iran's oil industry may also need further improvement and enhancement.
Original: www.toutiao.com/article/1842670697666631/
Statement: This article represents the views of the author himself.