Blomberg anticipates Iran’s oil shipments to hit 1.5M bpr
Date
8/17/2023 9:07:44 AM
(MENAFN) Oil shipments from Iran are anticipated to hit 1.5 million barrels each day, which would be a record high since 2013, according to estimations from data analysis company Kpler, according to Bloomberg.
According to the Kpler data, China imported an average of 917,000 bpd of Iranian oil from January to July of this year.
Iran has increased its oil exports in 2023 as it asserts its geopolitical dominance, with the majority of the cargoes going to China, according to Bloomberg.
According to reports, both of the main grades of Iranian oil are currently selling for over USD10 less per barrel than Brent, which is less expensive than Russian oil.
Late in July, Kpler said that despite U.S. restrictions on Iran and a boost in Russian oil supplies to China, Iran's oil exports to the Asian nation have over tripled in the previous 3 years.
The data analysis company estimates that in this year, Iranian crude shipments to its main trading partner is going to average over 1 million barrels per day (bpd), up from about 325,000 barrels per day in 2020.
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