The Trump administration had threatened a complete halt to Iranian oil exports, prompting other producers to boost output to compensate. Earlier this month, the U.S. made deals authorizing exemptions to eight countries, without disclosing the terms. But people familiar with the sanctions waivers say American officials are forecasting some 900,000 barrels a day of Iranian crude sales by April. That would be down at least 40% from pre-sanctions levels. The shifts are rattling oil markets. In just over a month, Brent—the global benchmark—fell more than 21%. While maintaining it still wants to bring Tehran’s crude exports to zero, the administration isn’t saying how much Iranian oil the eight countries are allowed to buy. The nations, including China and India, have negotiated limits in secret with the U.S. Saudi oil officials say they are considering advocating a production cut of as much as 1.4 million barrels a day at the […]