Iran’s oil and condensate exports plunge in August
Iranian crude oil and condensate exports are expected to fall to 64 million barrels this month, or 2.06 million barrels per day, the first time that crude oil and light oil exports from Iran have fallen to less than 70 million barrels since April 2017.
Iran’s crude oil and condensate shipments in August are up to 2.06 million barrels per day, compared with a peak of 92.8 million barrels, or 3.09 million bpd, for April this year, a month before the United States withdraws from the Iranian nuclear deal. Re-imposed sanctions on Tehran. The first round of US sanctions began earlier this month, while sanctions on Iran’s oil exports – which the United States is targeting to “zero” – will return in early November.
The report showed that major Iranian customers reduced the volume of loading in August, and China is expected to see the highest rate of 18.4 million barrels coming from Iran this month, after the highest monthly amount this year, 24 million barrels in July.
Iran’s exports to India fell to 8.2 million barrels, compared to more than 20 million barrels in the previous months, according to the data, but has not yet been identified about 11 million barrels of Iranian oil, so Indian imports may be higher than 8.2 million barrels this month. Japan cuts imports for the second month in a row, and for the second consecutive month, South Korea does not import Iranian oil.