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Iran’s Oil Exports Hit 7-month low on Buyer Apprehension: Kpler

OIL

Iranian crude oil exports fell by 0.46m b/d in October to under 1m b/d, according to Kpler ship tracking, as threats of heightened US sanctions vigilance made Chinese buyers more reticent to take barrels.

  • The US House recently passed a bill aimed at punishing entities who facilitate the trade of Iranian oil — including refineries and ports. It’s not clear whether or when the upper chamber will take it up.
  • Falling run rates among Chinese Teapots due to depleted import quotas could also be a factor in falling exports from Iran.
  • Iranian exports in October were their lowest since March, based on Kpler data. Exports across 2023 to date have averaged 1.2m b/d.
  • However, TankerTrackers’ data put Iranian exports for October higher, at 1.43m b/d, and the lowest since July, rather than March.
  • Due to sanction evasion, Iranian barrels are difficult to track, raising imprecision in calculating exports.
Energy BulletsCommodities
Energy BulletsCommodities

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