According to preliminary KPLER data cited by Bloomberg, the February average for the largest buyers of Iranian oil exports averaged 1.74 million barrels per day. This figure has increased 86% since January’s trend.
The opening of new reception terminals and more ship-to-ship transfers has enabled increased cargo, according to a Bloomberg report.
The Trump administration threatened to return to the maximum pressure approach of Trump’s first term in order to force Iran to develop nuclear weapons. US Treasury Secretary Scott Bescent said the goal is to narrow Iran’s oil exports to one tenth of its current levels.
In a recent analysis, Kpler said Washington’s return to the maximum pressure campaign against Iran would likely weaken oil exports to China, at least for a while.
“Some buyers, especially large Chinese privately owned refiners, are likely to avoid precautions in the near future, as prices are high due to workarounds to avoid US sanctions. ” wrote Kpler analyst Homayon Farakshahi.
MA/PR