LONDON (Reuters) – Iranian crude oil exports fell in February by around 250,000 barrels a day, tracking tanker Petro-Logistics said on Tuesday, suggesting that an increase in shipments has run out of steam.
The OPEC member’s oil exports rose in January after a fourth-quarter surge, despite U.S. sanctions, a sign that the end of Donald Trump’s tenure as U.S. president could change buyer behavior.
But Geneva-based Petro-Logistics, which assesses exports by tracking tanker shipments, told Reuters that shipments fell to levels seen in November and December, “before the January spike.”
Petro-Logistics said on Jan.26 that Iranian exports are expected to exceed 600,000 bpd in January for the first time since April 2019, after increasing 100,000 bpd in the fourth quarter.
The company did not give an updated figure for January shipments on Tuesday.
Reporting by Alex Lawler, editing by Louise Heavens