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More than 111 million barrels of Iranian oil are stacked without customers
2019/07/30 14:16:45
[rtl]The data from tanker companies shows that more than 111 million barrels of Iranian oil have been piled up in ports without customers in July.[/rtl]
[rtl]According to figures obtained from Kpler, which tracks oil shipments worldwide, Iran's oil stored in fixed tankers around the Gulf region has reached 56 million barrels, nearly doubling just two months ago.[/rtl]
[rtl]The figures also show that 55.5 million barrels are also being stored in land facilities in Iran and a large quantity of them in the Dalian and Jinju facilities in China.[/rtl]
[rtl]The total stockpile of crude oil stands at at least 111 million barrels, just since the US ban on Iranian oil exports came into force in early May.[/rtl]
[rtl]Iran previously exported about 2 million barrels a day as a share in the global market, which has now dropped to less than 400 thousand barrels per day.[/rtl]
[rtl]In terms of figures, China's imports of Iranian oil fell by 60 percent in June compared to the same month last year, following the expiration of the US exemption from sanctions in May.[/rtl]
[rtl]The administration of President Trump gave eight importers of Iranian oil, a deadline of 180 days last November, to stop their purchases of oil from Iran.[/rtl]
[rtl]China's imports of Iranian oil reached 855,000 tons in June. China's imports also fell by 30 percent in the first six months of the year to 11 million tonnes.[/rtl]
[rtl]The report pointed out that it is not clear how much quantity is stored in China and the amount of consumption.[/rtl]
[rtl]Kepler says Iran no longer has enough oil tankers to store oil.[/rtl]
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