Iran is estimated to have exported 12 million barrels of crude in the week after the U.S. ended its sanctions waiver on July 7, with multiple sanctioned supertankers leaving the Strait of Hormuz in “dark mode.”
Despite renewed U.S. enforcement, Tehran continues using its shadow fleet to move crude toward Asia. Since mid-June, Iran is estimated to have shipped nearly 60 million barrels, much of it ultimately destined for China’s independent refiners.
Note By Alessandro Bazzoni