JP Morgan Chase: July, former Iranian oil production or drop millions of barrels

JP Morgan said in a research report to clients on Thursday, 6 the end of the former Iran’s daily crude oil production will be reduced to 100 million barrels to 250 million barrels, the oil refining enterprises of the country’s oil demand to cut faster than expected.

This is the greatest influence on a forecast of the United States and the European Union on the Iranian oil embargo done, JP Morgan Chase Energy Research Group, said there is evidence that the oil refineries in Europe, South Africa and Japan have been slashed Iran’s crude oil imports, it is expected that other businesses in the region will further cut import of Iranian oil, which is not subject to the impact of the Chinese buying behavior.