Sanctions keep pressure on Iranian shipments

摘要

Iranian exports remain under pressure this month, as sanctions draw ever closer and the evidence points to an accumulation of crude in floating storage. Iranian crude loadings were just over 1.8mn b/d in the first two weeks of September, little changed from August’s revised 1.78mn b/d, but 400,000 b/d lower than shipments of 2.2mn b/d in the first half of this year. Major buyers China, India and Japan appear to have limited their intake. And shipments are expected to decline further as the deadline approaches for US sanctions to take effect.