Analysis by PMOI/MEK
Iran, June 28, 2019 – Iran’s oil exports for the month of June dropped to less than 300,000 barrels per day after the United States tightened sanctions on the regime’s main source of income, according to industry sources said and tanker data cited by Reuters.
The United States re-imposed sanctions on Iran in November after pulling out of the 2015 nuclear accord between Tehran and six world powers. Aiming to cut Iran’s sales to zero, Washington in May ended sanctions waivers to importers of Iranian oil.
Data from Refinitiv Eikon put Iran crude shipments at about 240,000 bpd.
Iran’s June exports are down from about 400,000-500,000 bpd in May as estimated by the industry sources and Refinitiv and a fraction of the more than 2.5 million bpd that Iran shipped in April 2018, the month before President Donald Trump withdrew the United States from the nuclear deal.
Refinitiv Eikon data showed Iran has exported 5.7 million barrels of crude in the first 24 days of June to the United Arab Emirates, Turkey, Singapore and Syria, although these may not be the final destinations.
That would put actual crude exports in the first half of the month even lower than 300,000 bpd.
Kpler, another company which tracks oil flows, estimates that Iran loaded 645,000 bpd of crude and condensate, a light oil, onto tankers in the first half of June, of which 82 percent are floating in Gulf waters.
“American restrictions are having a clear effect on Iran’s ability to sell into global markets,” Kpler said.
