Iranian oil exports reached 2.1 million barrels a day

According to Mining News Pro - Bloomberg`s statistics show that Iran`s oil exports reached 2.1 million barrels a day in August, the lowest since March 2016.

After President Donald Trump announced in May that he has been banning Iran`s oil industry since November, pressure on Iranian oil customers has increased.

"It`s been two months since the start of oil sanctions in November, and we expect a further drop in Iran`s exports to Asia, Europe and India," said Michel Tran, an analyst at the Royal British Equity Markets Institute.

He added that Iran is expected to make more discounts on its oil prices.

The report says total exports of Iranian oil and condensates to its three main customers, China, India and Japan have fallen. In total, Iran shipped 1.1 million barrels per day in August, compared with 1.8 million barrels in July.

Iranian exports to Europe increased slightly in August from 323,000 barrels in July to 355,000 barrels a day. Exports to Turkey have seen a slight decline.

In total, Iranian exports of crude oil and condensate declined by 755,000 barrels in August compared to April, the month before the withdrawal.

Given that the exact destination of all tankers loaded from Iran in August is not yet clear, the final statistics are likely to be slightly different from those of this report.