Iran is shipping the most crude in almost five years


Eamonn Sheridan

A catch-up with this Bloomberg (gated) piece on Iranian oil exports:

  • Exports have surged to the highest level since US sanctions were re-imposed in 2018
  • vast majority is flowing to China

Bloomberg cite various analysts:

This adds to flows from other sanctioned states such as Russia and Venezuela, all increasing global supply and a headwind to price.

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