Pakistan, April 24 -- Asian buyers of Iranian crude are well placed to overcome the end of US sanctions waivers as they have demonstrated they can live without it and as global producers have the capacity to make up a shortfall, according to analysts and trade data.
The United States on Monday demanded buyers of Iranian oil stop purchases by May or face sanctions, ending six months of waivers which allowed Iran's eight biggest buyers, most of them in Asia, to continue importing limited volumes.
The announcement came amid an already tight market as the Organization of the Petroleum Exporting Countries (OPEC) and other major producers, including Russia, have been curtailing supply since January to prop up prices.
Global benchmark Brent cru...