Estimates point to steady rise in Iran’s oil exports in August

Estimates provided by energy data firms show Iranian oil exports continued to rise in August despite sanctions imposed by the United States.

A Thursday report by Reuters news agency cited figures from international tanker tracking services which suggested Iranian oil exports in August had reached levels not seen since the country came under US sanctions in 2018.

The report said that data from SVB International had shown that Iran’s oil exports, including the exports of condensates, had reached an average of nearly 2 million barrels per day (bpd) from a total output of 3.15 million bpd in August.

It also cited estimates from TankerTrackers.com which showed that Iran's oil exports had averaged 1.92 million bpd in the first 27 days of August.

The Kpler, a French data company based in Belgium, expected Iranian oil exports in August to average about 1.2 million bpd without considering the sales of condensates, said Reuters, adding that the data may be revised up.

The report also quoted an anonymous tanker-tracking firm as saying that August crude oil exports from Ira had reached above 1.5 million bpd without considering the condensates shipments.

The new figures confirm statements by Iranian authorities in recent weeks suggesting there has been a major increase in Iranian oil exports.

Iranian Oil Minister Javad Owji said earlier this week that total oil production in the country would reach a milestone figure of 3.4 million bpd by late September.

Experts say Iran’s continued resolve against US sanctions in recent years has clearly paid off as the country is pumping record amounts of oil to the international markets.

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