NO TANKERS EXITED GULF SINCE BLOCKADE – KPLER
Analysts at Kpler said they had not observed any Iranian crude tankers exiting the Gulf of Oman since the blockade began.
US authorities said on Wednesday their blockade was denying Tehran of much-needed revenue from crude exports.
“Right now there are 41 tankers with 69 million barrels of oil that Iranian regime can’t sell,” US Central Command (CENTCOM) said on Wednesday.
Iran’s currency, the rial, fell to a record low against the US dollar on Wednesday, highlighting the financial difficulties that face the oil-reliant economy.
Despite the pressure, Iran is still loading crude at its main export hub on Kharg Island, maritime intelligence firm TankerTrackers said.
Satellite imagery shows at least 10 tankers parked off Iran’s Chah Bahar port on the Gulf of Oman, it added.
Iran pumped about 3.24 million bpd of crude in February, around half for domestic refining.
Yet, the country may be forced to start cutting output within a week or two, said Kpler analyst Johannes Rauball, with storage scant.
Onshore storage is about 60 per cent full, Kpler said, with stocks above 50 million barrels, and capacity at 86 million barrels.
Capacity constraints could force Iran to curb production in mid-June, consultancy FGE NextantECA estimated on April 15.