According to tanker data, crude oil exports from Iran decreased to its lowest daily output in April as consumers prepare to limit buying before the United States prepares to place even more restrictions on Iranian shipments in May, as reported by Reuters.
According to the report “Shipments are averaging below 1 million barrels per day (bpd) so far this month, lower than at least 1.1 million bpd as estimated for March.”
US President Donald Trump imposed new rounds of sanctions on Tehran after Washington pulled out of the historic 2015 nuclear deal between Iran and other world powers. The second round of sanctions which targeted the Iranian oil sector were imposed in November 2018.
The US has granted sanction waivers to several countries including China, India, Greece, Italy, Taiwan, Japan, Turkey and South Korea. These countries are allowed to buy a limited amount of Iranian oil in an attempt to prevent world oil prices from increasing.
“We think there are very high chances that China and India and perhaps Turkey will receive (fresh) waivers, but with further cuts,” Reuters quoted Sara Vakhshouri as saying, an energy consultant with SVB Energy International.
The Syrian government is now facing a severe shortage of gas as the country has not received oil from Iran since October due to US placed sanctions on the Islamic Republic.
