Iran's Tanker Fleet Gives Oil-Export Lifeline as Sanctions Loom - Bloomberg

Iran's Tanker Fleet Gives Oil-Export Lifeline as Sanctions Loom - Bloomberg:

Iran’s own fleet of tankers may provide a lifeline for its crude and condensate exports that’ll be slashed as U.S. sanctions against the Persian Gulf nation take hold.

As Iran’s customers give in to mounting U.S. pressure, shipments from the OPEC member may drop to under 1 million barrels a day by mid-2019, down from a daily 2.5 million this year, according to industry consultant FGE. Still, the Middle East nation’s cargoes to China in the past few weeks show how changing vessel ownership and contract terms may help it sustain flows to buyers.