A number of tankers are engaging in ship-to-ship transfers of Russian crude in the Atlantic
Russian barrels continue to impact Iranian trade
The sanctioned countries are competing in a limited illicit market
Iranian crude and condensate exports have slowed this year amid stiff competition from sanctioned Russian barrels for both Chinese market share and access to those tankers willing to transport the illicit cargoes. Iran exported an average of 880,000bl/d in the second quarter, down from 980,000bl/d in the first three months of the year, according to data from cargo-tracking analytics firm Vortexa. Exports have declined in recent months, but logged a partial rebound in August to back up to more than 800,000bl/d. China remains the largest single buyer of Iranian crude, but the Middle Eastern country has seen its market share eroded by Russia. China imported an average of 500,000bl/d of crude fr
Also in this section
11 August 2025
The administration is pushing for deregulation and streamline permitting for natural gas, while tightening requirements and stripping away subsidies from renewables
8 August 2025
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
7 August 2025
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
7 August 2025
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
