Iran’s oil exports are surging this month, swelling global flows at a time when other producers are cutting back, according to a firm that monitors satellite imagery of individual tankers.
The boom is awkward for the US, which officially still has sanctions in place that should restrict Iran’s shipments. Even so, the extra cargoes will help to cushion the impact of reductions by Saudi Arabia, Russia and other nations in the OPEC+ alliance.
TankerTrackers.com Inc., which provides data on oil cargo shipments to governments, insurers and other institutions, estimates that the Persian Gulf state exported 2.2 million barrels a day of crude and condensates during the first 20 days of August. If maintained, it would far exceed any other month this year and is well above what other oil-shipping analytics firms say.
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