Washington issued exemptions to eight countries to its ban on buying oil from major producer Iran.
A first round of American sanctions took effect in August, targeting Iran's access to the United States dollar, metals trading, coal, industrial software, and auto sector.
"Sanctions didn't cut so much out of the market as anticipated", Falih said.
A senior diplomat, who was speaking on condition of anonymity because he wasn't officially allowed to discuss the report, said that "there's nothing that indicates that Iran's cooperation or Iran's attitude has changed since November 5".
The reason this report is particularly important this month is that it comes just a week after the United States, who withdrew from the deal six months ago, imposed all the nuclear sanctions eased by the deal back on Iran.
And on Sunday, NIOC sold 700,000 barrels of light crude oil at IRENEX at the price of $64.97 per barrel.
The U.N. atomic watchdog says Iran continues to stay within the limitations set by the nuclear deal reached in 2015 with major powers, aimed at keeping Tehran from building nuclear weapons in exchange for incentives.
Kumar didn't say how much oil India will continue to purchase from Iran, and the USA hasn't provided volume details of the waivers it's granting, Kallanish Energy notes.
The official mentioned offering of one billion barrels of crude oil at IRENEX as a successful trial procedure, Shana reported on Monday. The set price for this round of oil sales was $71.59 per barrel. But he said Riyadh will start cutting production by more than 500,000 barrels a day next month.
The energy minister of the United Arab Emirates, Suhail al-Mazrouei, now the president of OPEC, said further "changes" likely would be necessary when the oil cartel meets in December in Vienna. However, he stressed that more study needs to be done.
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