Total stops purchases of Iranian oil upon penalty of sanctionsStaff Writer | October 10, 2018
Total has stopped buying Iranian oil in July, its CEO Patrick Pouyanné said, as companies start cutting imports before the U.S. deadline to end purchases of Iranian oil as part of renewed sanctions.
World The U.S. administration has set November 4 as a deadline
Speaking at the Oil & Money conference in London, the CEO said that the global oil market is "well supplied". "Inventories are continuing to grow, prices are high not because of demand but because of political issues," the WSJ cited Pouyanné as saying. ■