Iranian oil exports have dropped in July to as low as 100,000 barrels per day (b...
LONDON - Iranian oil exports have dropped in July to as low as 100,000 barrels per day due to sanctions and rising tension with the United States and Britain, according to an industry source and tanker data, deepening global supply losses.
Iran has nonetheless sent abroad about 100,000 bpd of crude in July, said the industry source, who tracks such flows. Data from Refinitiv Eikon put crude shipments at a similar rate and at 120,000 bpd if condensate, a light oil, is included. “We can’t be sure that all of this capacity has been sold in July,” she said. “Also, it’s important to note that some of the deliveries mostly to China are based on IOU contracts and are not new sales.”
“Ongoing U.S.-Iranian tensions have done little to improve the Islamic Republic’s ability to sell into foreign markets,” Kpler, another company that tracks oil flows, said in a report. The exact level of Iranian exports has become more opaque since U.S. sanctions returned in November, making it harder to assess volumes and meaning estimates are falling into a range rather than focusing on a definitive figure.
Kpler said Iran had loaded 417,000 bpd of crude and condensate onto tankers in July, down 115,000 bpd from June.
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