Turkey and Italy are the last buyers of Iranian crude outside of China, India and the Middle East, according to data from tankers and industry sources, in a new sign that shipments are heavily affected by imminent US sanctions.
Iran has exported 1.33 million bpd since the beginning of October to India, China, Turkey and the Middle East, and no ships carrying Iranian oil have been shown to Europe, according to Reuters data.
However, a sector source tracks exports as much as 1.5 million barrels a day, including ships not shown on the AIS satellite tracking system, including a one million-ton tanker en route to Italy.
At least 2.5 million bpd in April, before US President Donald Trump announced a US withdrawal from the 2015 nuclear deal with Iran and reinstated sanctions. The figures also show a continued decline from the 1.6 million bpd level recorded in September.
