Iran Oil-Export Rise Runs Out of Steam in February- Tracker

The company did not give an updated figure for January shipments on Tuesday.

SEATTLE (Oil Monster): Iranian crude oil exports have fallen in February by about 250,000 barrels per day, tanker tracker Petro-Logistics said Tuesday, suggesting a jump in shipments has run out of steam.

The OPEC member’s oil exports climbed in January after a boost in the fourth quarter, despite U.S. sanctions, in a sign that the end of Donald Trump’s term as U.S. President may be changing buyer behaviour.

But Geneva-based Petro-Logistics, which assesses the exports by tracking tanker shipments, told Reuters that shipments had fallen to levels seen in November and December, “before the surge in January.”

Petro-Logistics on Jan. 26 said Iranian exports were set to exceed 600,000 bpd in January for the first time since April 2019, after rising by 100,000 bpd in the fourth quarter.

The company did not give an updated figure for January shipments on Tuesday.

Courtesy: www.reuters.com