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Iran Stores More Crude Oil As U.S. Sanctions Stifle Exports In recent weeks, Iran has been storing more oil onshore and at tankers at sea as it looks to continue producing oil, but its crude exports are severely restricted by the U.S. sanctions, Reuters reported on Thursday, citing industry sources and ship-tracking data. Last month, the United States put an end to the six-month sanction waivers to all buyers of Iranian oil. A growing number of importers, refiners, insurers, and ship owners prefer to steer clear of dealings with Iranian oil instead of risking secondary sanctions or being cut off the U.S. banking and …

I ranian crude oil exports in January were higher than expected, while February shipments so far have been holding steady or even higher compared to last month, as several of Iran’s customers are using up their US sanction waivers to continue importing Iranian oil. According to tanker-tracking data from Refinitiv Eikon and a source at a company tracking Iranian oil flows, Iran’s exports in February have averaged 1.25 million barrel per day so far, while the January exports were between 1.1 million bpd and 1.3 million bpd, higher than the previously expected below 1-million-bpd level, which was seen in December, …