SANCTIONS FROM TODAY

• Iran’s oil exports,

which reach around 2.5 million barrels per day (bpd) in normal times, to plunge by one million as sanctions take effect from today

• Saudi raised

output by 700,000 bpd to 10.7 million bpd in October and was prepared to further bump up production to 12 million bpd, according to its oil minister

• Some estimates

show Iran’s crude exports have already dropped by a third since May with even companies from China and India abandoning purchases