Iran Oil Shipments Reach Year-Long High In September, Defying US Sanctions
Tyler Durden
Sun, 09/27/2020 – 13:00
Iran has defied the U.S. threats and sanctions by increasing their oil shipments in the month of September, Reuters reported on Friday, citing details from TankerTrackers.
Details from TankerTrackers and two other unnamed firms revealed that the exports are rising, “although the figures fall into a wide range of between 400,000 bpd and 1.5 million bpd, reflecting the difficulty in tracking the shipments.”
“Exports are way up right now. We are seeing close to 1.5 million bpd in both crude and condensate so far this month,” Samir Madani, co-founder of TankerTrackers, told Reuters.
The TankerTrackers data showed Iran’s oil exports for the month of September are double the numbers from August.
Exports have shrunk from over 2.5 million barrels per day (bpd) since the United States withdrew from a nuclear deal with Iran and reimposed sanctions in 2018. Still, Iran has been working to get around the measures and keep exports flowing.
Data from TankerTrackers and two other firms, who asked not to be named, indicated exports are rising in September, although the figures fall into a wide range of between 400,000 bpd and 1.5 million bpd, reflecting the difficulty in tracking the shipments. — Reuters
“Data from TankerTrackers, which tracks shipments and oil storage, showed almost half of Iranian exports were picked up by foreign vessels via ship-to-ship transfers, making it difficult to determine final destinations,” Reuters added.
TankerTrackers noted further, “These are levels we haven’t seen in a year and a half.”
The rise in oil exports comes at a time of time of increased turmoil between the United States and Iran, as both nations have repeatedly exchanged diplomatic attacks in the international arena.