When the US sanctions Iranian oil to curb China

Oil
File AFP

UNITED STATES (VOP TODAY NEWS) — The sanctions against Iranian oil and the suspension of exemptions to buy Iranian oil could be the last phase of a Washington project to dominate the heavy crude oil market and to hold consumers, such as China, in its power.

Thanks to the production of oil and shale gas, the United States has become in less than ten years the first global producers of these two hydrocarbons, say Western analysts.

According to the same estimates, the United States has reached a historic milestone, exporting an average of 3.36 million barrels of oil each day to its 2018 production, amounting to 12.1 million barrels per day.

The same is true of liquefied natural gas (LNG) exports. The United States has built many liquefaction plants to deliver LNG to the world. Now the Americans have competed with the Russians to conquer the LNG market in Europe and China.

This could explain recent attempts by Americans to hinder the construction of the Nord Stream 2 gas pipeline, which connects directly (without passing through Ukraine) Russia to Europe (especially Germany) across the Baltic Sea.

The United States has mobilized all its possible means to cripple the export capacity of Iran and Russia to become the world’s leading oil and gas exporters.

Beyond Iran’s strong response to US punitive measures, the US project to replace Iranian oil in the market is facing serious technical challenges.

At the announcement of the suspension of exemptions by Trump, the US government claimed that Saudi Arabia and the United Arab Emirates, both OPEC members, were able to offset the decline in oil supply Iran and maintain prices in the range of $ 65 to $ 80.

In fact, heavy oil contains different kinds of crude that is sent to specific countries to be refined.

However, the world’s markets need different grades of oil, and given the problems of Venezuela, Nigeria, and Libya, all of which are heavy oil producers, Iran’s absence in the market could slow down. global production of kerosene and diesel.

The risk of an energy crisis is serious. Indeed, well-informed sources point out the inability of Chinese and Indian refineries to refine the sweet crude oil produced by the United States, as they were designed to refine heavy crude oil.

China remains camped on its pro-Iranian position, even if it is to win its oil showdown with the US, thanks to Iran.

Online:

This article is written and prepared by our foreign editors writing for VOP from different countries around the world – edited and published by VOP staff in our newsroom.

Our Standards, Terms of Use: Standard Terms And Conditions.

Contact us: voiceofpeopletoday@gmail.com

VOP Today News — Breaking news source, real-time coverage of the world’s events, life, politics, business, finance, economy, markets, war and conflict zones.

Stay connected with VOP Today News on Twitter – VOP Today News on Facebook, also with our online services http://j.mp/2hDUK4x and never lost the breaking news stories happening around the world.

Support The VOP from as little as $1 – it only takes a minute. Thank you.

We are the Voice of People — the only funding and support we get from people – we are categorically not funded by any political party, any government somewhere or from any grouping that supports certain interests – the only support that makes VOP possible came from you.