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OIL: Iranian Sellers Face Increased Competition For Unsanctioned Tankers

OIL
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Iranian oil sellers risk facing significant hurdles moving their cargoes out of the country as competition for unsanctioned tankers from Russia and Venezuela intensifies, Bloomberg reports, citing Kpler. 

  • While there were about 150 tankers engaged in Iranian crude oil transport in 2024, more than 100 of those have been added to a list of vessels sanctioned by the US.
  • Two of the 13 ships sanctioned on Monday for their involvement in Iran’s oil trade – the Phoenix I and Urgane I – have loaded Russian cargoes in recent days, Bloomberg reports.
  • With nearly 80 Iran-linked tankers targeted by the US since Q4 2024, “we have observed the decline of Iranian crude exports,” Xu said. Shipments have slipped to about 1.5m b/d from 1.76m b/d in November.
  • Exports could fall by about a third from their current level by May or June, Xu said. 
  • The removal of US sanctions on Russian tankers would be “extremely good news for Iran”, according to Xu, as freight rates for Russian oil would fall and potentially Iran would have more tanker availability.  
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Iranian oil sellers risk facing significant hurdles moving their cargoes out of the country as competition for unsanctioned tankers from Russia and Venezuela intensifies, Bloomberg reports, citing Kpler. 

  • While there were about 150 tankers engaged in Iranian crude oil transport in 2024, more than 100 of those have been added to a list of vessels sanctioned by the US.
  • Two of the 13 ships sanctioned on Monday for their involvement in Iran’s oil trade – the Phoenix I and Urgane I – have loaded Russian cargoes in recent days, Bloomberg reports.
  • With nearly 80 Iran-linked tankers targeted by the US since Q4 2024, “we have observed the decline of Iranian crude exports,” Xu said. Shipments have slipped to about 1.5m b/d from 1.76m b/d in November.
  • Exports could fall by about a third from their current level by May or June, Xu said. 
  • The removal of US sanctions on Russian tankers would be “extremely good news for Iran”, according to Xu, as freight rates for Russian oil would fall and potentially Iran would have more tanker availability.