Oil exports from Iran continue to decline with approach of US sanctions

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Turkey and Italy remain the last buyers of Iranian oil besides China, India and the Middle East, data from a vessel tracking system show, an industry source said.

Since early October, Iran has exported 1.33 million barrels per day to India, China, Turkey and the countries of the Middle East, according to Refinitiv Eikon. Not a single vessel with Iranian oil is currently heading for Europe.

However, a source in the industry, also tracking oil exports, estimated the volume of shipments at 1.5 million barrels per day. This estimate takes into account vessels not tracked by the satellite AIS (Automatic Identification System), including the next tanker to Italy with a cargo of 1 million barrels.

The October export figure is significantly lower than in April (at least 2.5 million barrels per day).

In September, oil exports from Iran amounted to 1.6 million barrels per day.

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