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Friday, March 20, 2026

Iran claims it has no surplus of oil on water

 The Iranian Oil Ministry stated on Friday that it has no surplus of crude oil left on the water, from which the United States Treasury Department could lift sanctions.

"At present, Iran essentially has no crude oil left floating on water or surplus for supply in other international markets, and the statement by the US Treasury Secretary is merely aimed at giving hope to buyers and psychologically controlling the market," the ministry's spokesperson Saman Ghodousi said in a post on X.

The ministry's statement came in response to US Treasury Secretary Scott Bessent saying his country could remove sanctions on Iranian oil that is on the water, and claiming there are about 140 million barrels currently on vessels.

https://breakingthenews.net/Article/Iran-claims-it-has-no-surplus-of-oil-on-water/65920400

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