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The Trump administration forecasts that it will persuade countries to cut Iranian oil imports by as much as 1 million barrels a day when it reimposes energy sanctions in early November, according to two people familiar with the administration’s efforts to choke off Tehran’s crude sales. The assessment forecasts a range of likely cuts of 700,000 to 1 million barrels a day -- a significant reduction for the Islamic Republic but short of the announced U.S. goal of halting all sales of Iranian crude. Iran exported an average of about 2.1 million barrels of oil per day over the last year, according to data compiled by Bloomberg. Any significant reduction would be a blow to Iran’s battered economy. Full story

10 August