WorldOil Iranian crude shipments slump as U.S. oil sanctions bite deeper Iran’s oil shipments tumbled this month after the U.S. ended sanctions waivers that allowed eight governments to buy from the Persian Gulf country. Iran hasn't cut offshore oil nor halted exports, according to IOOC Iran’s offshore oil production hasn’t seen any reduction and the country just loaded crude for export, said Hamid Bovard, head of the Iranian Offshore Oil Co. Aramco cuts oil prices to U.S. as Trump tightens Iran sanctions Saudi Arabia, the world’s biggest oil exporter, cut June pricing for all crude grades to the U.S. and raised most pricing to other regions. Iran's oil minister challenges threats from OPEC member states Iran’s oil minister warned that OPEC is in danger of collapse as some nations seek to undermine their fellow members, an apparent reference to Saudi Arabia’s pledge to fill the supply gap created by U.S. sanctions on Iranian exports. U.S. may not be able to offset Iran oil losses Secretary of State Mike Pompeo proclaimed America’s ability to help offset supply losses when the the U.S. vowed to stop any sales of Iranian crude. Maybe, but it would be a stretch. Europe pledges support of Iran as Trump targets oil exports Europe confirmed its efforts to aid Iran after the U.S. tightened all exports of Iranian oil for sanctions. OPEC+ oil cuts jeoperdized by Iran waiver termination As the U.S. ends waivers that let countries buy Iranian crude, this threatens to squeeze oil supplies in an already tight market. American drillers surge, Saudi agrees to steady oil supply after Iran waivers cease Some of the biggest beneficiaries of sanctions aimed at crippling Iran are oil companies on the other side of the world. Iran threatens to close Strait of Hormuz, vital to oil shipments, if waivers end Iran will close the Strait of Hormuz, a waterway vital for global oil shipments, if the country is prevented from using it, a senior military official said on Monday in what appears to be a response to the U.S. plan to end waivers on Iranian oil exports. Trump will not renew waivers, demands zero exports from Iran The Trump administration will not renew renew waivers that allow countries to buy Iranian oil without facing U.S. sanctions.