• 4 minutes "Natural Gas Trading Picks Up Considerably Amid High Volatility" by Charles Kennedy - ...And is U.S. NatGas Futures dramatically overbought at the $6.35 range?
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours Natural Gas is the Cleanest and most Likely Source of Energy to Fuel the World.
  • 2 days "Russia will stop 'in a moment' if Ukraine meets terms - Kremlin" by Reuters via Yahoo News...but Reuters suddenly cut out the balanced part of the story.
  • 1 day Advancing Fundamental Drilling Science - Geothermal drilling successes offer potential gain for petroleum industry
  • 9 hours The World Economic Forum (WEF) - Davos 2022 Conference held this last week of May
  • 4 days What China is Learning from Russia's War in Ukraine and its Consequences

Iran’s Oil Exports To Rise In March

Iran’s crude oil exports are rising this month compared to February and March last year, tanker tracker Petro-Logistics told Reuters on Tuesday.

Last week, Geneva-based Petro-Logistics said that Iranian oil exports were up so far in March, following “very low exports in February.” Yet, Iran’s oil exports in the first half of March were below the 21-month high seen in January, according to Petro-Logistics estimates.

“Iranian exports have remained at elevated levels compared to last year,” the tanker-tracking firm told Reuters.  

For the first 18 days of this month, Iranian oil exports are tracking at below 600,000 barrels per day (bpd), which is lower than the January export estimate of nearly 800,000 bpd of crude oil exports, which was the highest export volume since April 2019, according to Petro-Logistics.

Iran’s oil exports in February were estimated down by 250,000 bpd from January, Petro-Logistics said last month.

In recent weeks, various reports have suggested that China has been considerably boosting its crude oil imports from Iran to the point that the ports in the Shandong province, where most independent refiners are based, are experiencing tanker traffic congestions. Increased buying from China has provided more incentive for Iranian oil exports.

According to some estimates, China has been taking in some 856,000 bpd of Iranian crude this month—a 129-percent surge compared to February.

China has never actually stopped buying crude oil from the Islamic Republic, even after the Trump Administration slapped sanctions on Iran’s oil sales in 2018, warning buyers to stay away from Iranian crude or risk being sanctioned and cut off from the U.S. banking system.

The Biden Administration warned China earlier this month that it would not turn a blind eye to rising Iranian oil exports to Chinese ports, the Financial Times reported, citing a senior Biden administration official.  

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News