At 2,247,729 barrels per day, Iran exported 134,154 bpd less in July than in June. This covers crude oil and condensates, and is also equivalent to over 4 million barrels for the month, which is just enough to pack 2 VLCC supertankers. Though we see more barrels heading off to China and India than in June, South Korea did not even appear on the list of destinations on account of that they are still waiting for a possible sanctions waiver from the US government. As for the EU, Italy and Spain continue to receive, and so has Greece after not appearing on destinations list in June. A monthly million(-ish) barrel parcel is currently underway to Syria aboard the SEA SHARK.
Iran July 2018 Crude Oil & Condensate Exports
| Destination | Barrels per day | Total Barrels | Percentage for Destination |
|---|---|---|---|
| China | 706,802 | 21,910,876 | 31.45% |
| India | 576,972 | 17,886,118 | 25.67% |
| Japan | 282,719 | 8,764,301 | 12.58% |
| UAE | 181,475 | 5,625,736 | 8.07% |
| Turkey | 136,924 | 4,244,647 | 6.09% |
| Italy | 70,399 | 2,182,364 | 3.13% |
| Spain | 62,810 | 1,947,110 | 2.79% |
| Myanmar | 60,637 | 1,879,741 | 2.70% |
| For Orders | 35,610 | 1,103,919 | 1.58% |
| Greece | 34,546 | 1,070,938 | 1.54% |
| Suez Canal | 34,538 | 1,070,671 | 1.54% |
| ? | 33,631 | 1,042,559 | 1.50% |
| Syrian Arab Republic | 30,665 | 950,607 | 1.36% |
| Total | 2,247,729 | 69,679,587 | |
| Revenue ($74.25 / barrel) | $166,893,850 | $5,173,709,341 |
Here’s where the July export tankers are currently located (August 2nd, 2018). As you can see, they’re using the Bab Al-Mandeb strait in the southern end of the Red Sea where the recent attacks on Saudi vessels purportedly took place.
If we review the Planet Labs satellite imagery at storage on the Kharg Island export terminal, we see in red that there has been a slight build in storage on account of the small drop in exports.
