Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

OPEC Data Highlights Iran's Vulnerability to Oil Sanctions
WSJ 'blogs ^ | July 17, 2012 | James Herron

Posted on 08/05/2012 3:00:16 PM PDT by SunkenCiv

Iran's leaders have repeatedly claimed that sanctions against its oil exports, aimed at pressuring it over its nuclear program, will harm the West more than they harm the Islamic Republic.

Data published by the Organization of Petroleum Exporting Countries late Monday show how hollow that claim may be.

Last year, before any direct oil sanctions were imposed on Iran, the country generated 88% of its export earnings from oil. Yet its significant contribution to national income belied the apparent weakness of Iran's oil industry.

Iran's crude oil exports fell 12.5% in 2011, faster than any other country apart from Libya, which was in a state of civil war for much of the year, according to OPEC's annual statistical bulletin.

This pushed Iran two places down the pecking order of OPEC exporters, to fourth place.

Its share of total OPEC exports, which underpins any country's influence in the group, fell to its lowest level since 1981, when the country was still in the grip of revolutionary turmoil.

All this happened before the toughest-ever sanctions, aimed directly at Iran's oil exports, were agreed by the U.S. and the European Union at the start of this year.

In fact, Western sanctions have long had a deleterious effect on Iran's oil industry.

(Excerpt) Read more at blogs.wsj.com ...


TOPICS: Business/Economy; Foreign Affairs
KEYWORDS: energy; iran; opec
Obama bows down to Saudi King | American Thinker | April 02, 2009 | Clarice Feldman | Posted on 04/02/2009 8:19:47 AM PDT by rdb3
Obama bows down to Saudi King | American Thinker | April 02, 2009 | Clarice Feldman | Posted on 04/02/2009 8:19:47 AM PDT by rdb3

1 posted on 08/05/2012 3:00:27 PM PDT by SunkenCiv
[ Post Reply | Private Reply | View Replies]

To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...

2 posted on 08/05/2012 3:18:00 PM PDT by SunkenCiv (https://secure.freerepublic.com/donate/)
[ Post Reply | Private Reply | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson