Reality Bites
20th February, morning:
Iran has stopped selling crude to British and French companies, its oil ministry said on Sunday, in a retaliatory measure against fresh EU sanctions on the Islamic state’s major export.
20th February, afternoon:
Iran is “struggling” to find a buyer for its oil output surplus, according to a report, as UN weapons inspectors arrive back in the sanctions-hit country.
Iran has said it may lift its ban on oil exports to France and the UK on the day UN nuclear weapons inspectors were reportedly blocked from visiting one military site.
File under “Didn’t think that one through, did we?”
Costs money to shut in oil wells? Why wasn’t I told?
Comment by James — February 26, 2012 @ 11:29 pm