Iran's Reliance on Own Oil Tankers Grows Even as Flows Slump - Bloomberg

Iran's Reliance on Own Oil Tankers Grows Even as Flows Slump - Bloomberg:

It is still nearly three months until U.S. sanctions on Iran’s oil exports snap back into force, but they are already having a big impact on the Persian Gulf country’s trade.

The nation’s outflow has fallen, and Iran is having to rely more on its own fleet of tankers to carry oil to its customers, according to ship-tracking data compiled by Bloomberg.

Iran’s exports of crude and condensate, a form of light oil extracted from gas fields, were down by 430,000 barrels a day, or 15 percent, in July compared with April, the last month before President Trump announced that he was pulling the U.S. out of the Iran nuclear deal and re-imposing sanctions.