Iran International:

Iran’s crude oil and gas condensate exports surged to 1.7 million barrels per day (mb/d) in May, hitting a 5-year high point, since the imposition of full US sanctions in May 2019.

The country’s oil and gas condensate exports reached 1.65 mb/d in the first five months of 2024, according to oil analytics firm Vortexa, as the Middle East experienced its worst violence in decades, triggered by the October 7 attack on Israel.

Iran’s custom statistics also indicate increasing oil revenues by 34.8% year-on-year to $12 billion during the first three months of current Iranian fiscal year, started March 21.

According to the data intelligence firm, Kpler, Iran exported 1.194 mb/d of crude oil and gas condensate in spring 2023. Therefore, the country’s oil export increased 30% in the second quarter of 2024, while oil prices in international markets also rose about 7% during the mentioned period.

Iran had also about 240,000 barrels per day of mazut exports, remained almost unchanged year-on-year.

Vortexa says that an increase in Iran’s crude production, higher demand from China and a net increase in the size of Islamic Republic’s dark fleet have helped facilitate its oil export growth.

The United Against Nuclear Iran (UANI) has identified 383 vessels suspected to be part of a clandestine “ghost fleet.” So-called ghost ships are vessels that disguise their ownership and movements in order to facilitate breaches of sanctions.

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