[size=18]Sources in the oil sector told Reuters that Iranian oil stocks are accumulating on land and sea due to US sanctions, amid Tehran's tireless efforts to keep its aging fields operational.
With a weak infrastructure and an aging fleet because of its increasing isolation, Iran will have to store unsold oil until it stumbles on buyers.
It is vital for Tehran to keep oil flowing because any disruption will damage its activities in the future because of the high costs and complications associated with the resumption of production.
Data from the Kayros, a company that monitors oil flows, showed that Iran's ground reserves stood at 46.1 million barrels, from a total of 73 million barrels, to its highest level since mid-January.
Other data indicated that 16 Iranian tankers, carrying about 20 million barrels, were being used for floating storage after remaining two to four weeks.
Data from tankers and oil sector sources also showed that Iran's oil exports fell in May to 500,000 bpd or less, more than half the level recorded in April.
Iran plans to invest around $ 900 million to create new storage capacity between 2019 and 2023, while Iran may find it difficult to expand, partly because of budget constraints, Global Data said.