YEREVAN, AUGUST 29, ARMENPRESS. Iran oil shipments are dropping at a faster pace than expected ahead of the new US sanctions set to begin in November, The Wall Street Journal reported.

It is expected the oil export may drop by a third in September, according to people familiar with purchasing plans.

Officials of the state-run National Iranian Oil Co. say in September the shipments will decline by nearly 1.5 million barrels a day, down from about 2.3 million barrels a day in June.

Sara Vakhshouri, a former National Iranian Oil Co. market analyst, said she expects Iran’s crude exports to drop by half to 800,000 barrels a day in November compared to August. 

Edited and translated by Aneta Harutyunyan