Highlights NIOC head says output will depend on sales Bourse base price set at $79.15/b Zanganeh says sanctions to lead to oil shortage Tehran — Iran’s oil exports have only declined “very slightly,” while production has remained level, the managing director of National Iranian Oil Company said Tuesday. “We are very solid now” in terms of production outlook, Ali Kardor said at an oil and power conference in Tehran, though he conceded that this could change depending on how NIOC’s sales volumes hold up. Iran faces the reimposition of US sanctions targeting its oil sales on November 5. Many buyers of Iranian crude are already ramping down their purchases ahead of the deadline. Oil exports from the country fell to their lowest level in at least two and a half years in September to 1.7 million b/d, […]