Iran oil export up in third consecutive month
Kpler, a commodities data intelligence firm, has reported that the Islamic Republic of Iran has exported 20 million barrels of its stored oil to the international markets within the last three months.
The information based on tracking of ships shows that Iran's oil export increased in August for the third consecutive month.
The commodities data intelligence firm declared that Iran's onshore oil ready for export has decreased by six million barrels, reaching 50 million barrels; moreover, its offshore oil ready for export also decreased from 107 million barrels to 93 million barrels, showing a 14 percent decline.
According to the report, Iran exported crude from both daily production, as well as 20 million barrels of its stored oil to the world markets. An important section of the stored oil export was transported to China.
Furthermore, Vortexa, a real-time energy cargo tracking, verified that Iranian oil export experienced an increasing trend, reporting that Iran's oil export in January stood at one million BPD, while it decreased to 700,000 BPD in May, but the volume hiked from June to August.
OPEC quoted information based on secondary sources, announcing that Iran's oil production increased 5k BPD in August. Iran produced 2,572,000 BPD this month.
The Iranian oil production in August hiked about 30 percent in comparison to the amount reported in the same period in 2020 when the then US administration decided to impose the so-called maximum pressure on Tehran. Iran produced 1,991,000 BPD in 2020.
The 30 percent growth in the production of crude oil in Iran in spite of the continuation of the US-imposed sanctions indicates that the embargo policy has been doomed to failure and the Iranians have been successful in nullifying the negative impacts of the American hostile policies against the Iranian economy.