August 3, 2019
Final oil export figures for the month of July show Iran’s oil shipments down compared with June, standing at just below 400 barrels per day.
Figures received by Radio Farda from Kpler, a data intelligence firm, show Iran’s seaborne loadings managed just 399,000 bpd, a decline of 133,000 bpd against an already weak June exports.
After the United States ended its sanctions exemptions for some of Iran’s oil customers at the beginning of May, Tehran “is clearly struggling to find buyers”, Kpler reported.
It is not clear how much of the July exports had buyers. Kpler had reported earlier that Iran is heavily stockpiling its oil both on tankers and offshore. Its storage capacity is full, with more than 111 million barrels already stockpiled. Some oil is being stored in China.
Oil prices dipped 8 percent on August 1, as U.S. President Donald Trump announced additional tariffs on Chinese imports, which dampened economic expectations.
On Friday oil rebounded, rising two percent, just partially regaining some lost ground.
Most types of crude oil were trading well below $60 on Thursday and Friday.