Trump Prevails: Iraq Agrees To Honor Iranian Sanctions -- October 30, 2018

Yesterday, when it was being reported that Iraq expected a exemption from the Iranian sanction, I wrote :

Iran sanctions: Iraq expects exemption. Which, of course, makes no sense. Trump calls out Germany for buying natural gas from Russia, and then Iraq expects exemption for helping Iran? The swamp.

Today: Iraq gives into President Trump ... Trump bullies Iraq ... or Iraq sees the writing on the wall .... whatever .... Iraq will stop oil exports to Iran in compliance with US sanctions. Wow. Iraq will halt its crude swap deal with Iran in order to comply with US sanctions. Wow.

Link here.

How trivial is this in terms of volume of oil? It is really, really trivial and it's all by truck: 30,000 bopd. One huge truck might carry  200 bbls, so we're talking at least 150 trucks / day. We probably need to confirm this some day -- that really seems like a lot of trucks going back and forth every day ... even in a country that relies on trucks. Whatever. 30,000 bopd is all we're talking.

Nice link here discussing volume of oil carried by various modalities.