Furthermore in terms of exports, the oil sent from Iran to Europe is not considerable to trouble them."
Drawing on the current challenges faced by Iranian energy industry and Europe's independence on the Islamic Republic's oil, he used a simile: "Now the injection of oil to the market can be likened to a pool where some pour oil in there and some others take out. So if one source is cut the other will make up for it. However in some particular instances the condition may change but Iran's oil export to Europe is not substantial to cause a crisis."
"Iran can affect the market only if totally halt its oil exports, otherwise the impact would be negligible," Qorban said.
Based on his comments, in the present situation dominating oil market, even if a country reduces its exports by a million barrels a day, no calamity will come about since the demand for oil in some way has been diminished.
Iran's oil exports are mostly targeted at East Asia so a possible cut would not seriously harm Europe," the senior expert stated.
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