NOW that the fog around the Iran sanction waivers has lifted, focus will return to supply-demand balances and the OPEC and non-OPEC meeting in Vienna next month.
The US government on November 5 granted temporary waivers to eight countries, including top Asian consumers China, India, South Korea and Japan, to continue importing Iranian oil. These countries have been allowed to keep importing oil from Tehran in exchange for making cuts in their import volumes in the past six months and promising to cut further in the next six months.