Iran’s crude exports have fallen from record highs in May following increased tanker inspections off China and greater competition for cut-price barrels from Venezuela, says data analyst Vortexa.
Iranian crude and condensate exports reached 1.3m barrels per day (bpd) in June, down 200,000 barrels from the previous month, with the decline linked to a reduction in demand from private refiners in Shandong, China, it said.
