• 4 minutes Why Trump Is Right to Re-Open the Economy
  • 7 minutes Did Trump start the oil price war?
  • 11 minutes Covid-19 logarithmic growth
  • 15 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 18 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 58 mins KSA taking Missiles from ?
  • 5 hours There are 4 major mfg of hydroxychloroquine in the world. China, Germany, India and Israel. Germany and India are hoarding production and blocked exports to the United States. China not shipping any , don't know their policy.
  • 6 mins How to Create a Pandemic
  • 2 hours Trump eyes massive expulsion of suspected Chinese spies
  • 12 mins A New Solar-Panel Plant Could Have Capacity to Meet Half of Global Demand
  • 11 hours >>The falling of the Persian Gulf oil empires is near <<
  • 8 hours Where's the storage?
  • 4 hours TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
  • 2 hours Today 127 new cases in US, 99 in China, 778 in Italy
  • 5 hours Western Canadian Select selling for $6.48 bbl. Enbridge charges between $7 to $9 bbl to ship to the GOM refineries.
  • 3 hours America’s Corona Tsar, Andrew Fauci, Concedes Covid-19 May Be Just a Bad Flu With a Fatality Rate of 0.1%
  • 10 hours Oxford Epidemiologist: Here’s Why That Covid-19 Doomsday Model Is Likely Way Off
Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Iranian Crude Exports Rise Despite U.S. Sanctions

Iran’s crude oil and condensate exports hit 2.7 million bpd in May, higher than its average volumes over the past year, while the U.S. withdrew last month from the Iran nuclear deal and re-imposed sanctions that would kick in later this year.

Last month, Iran’s crude oil exports stood at 2.4 million bpd, while condensate—ultra light oil—volumes hit 300,000 bpd, the Iranian oil ministry’s news service Shana reported over the weekend.

In the Iranian calendar year that ended on March 20, Iran’s crude oil exports averaged 2.115 million bpd, Shana reported.

For April, Iran’s crude oil exports reached a record 2.617 million bpd, according to Shana—the highest level since Iran signed the nuclear deal with global powers, just ahead of U.S. President Trump’s withdrawal from the deal in early May. Iran exported record-high volumes of crude oil and condensate of 2.877 million bpd to Asian and European markets in April, it said.

While the May export volumes were off the record April figures, they had not plunged after the announcement of U.S. sanctions returning, as per the figures by the Iranian oil ministry.

According to tanker tracking company Petro-Logistics, buyers are not yet rushing to drastically cut purchases from Tehran. Related: Russia’s Middle East Strategy Explained

“Exports are down by more than 100,000 barrels per day [bpd] from the very high levels seen in April, but there is no sign of a mass exodus at this time,” Petro-Logistics chief executive Daniel Gerber told Reuters last week.

In a sign that Iran continues to look to sell more oil despite the looming U.S. sanctions, Tehran has reportedly sold its first West Karoun oil to Spain’s Repsol, two sources told Reuters on Monday. Repsol has agreed to take 500,000 barrels of that crude on a spot basis and is expected to lift the cargo co-loaded with Iranian heavy later this week or early next week, according to one of the sources.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage






Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News