Floating storage in Iran down nearly 50% in the last three months – up to 30 cargoes
Iran is using the recent uptick in oil prices to sell off crude oil that has been sitting in offshore storage since the end of international sanctions. The Islamic Republic sold more than 13 million barrels of oil that was held in tankers, capitalizing on OPEC’s agreement to cut production in November, reports Reuters.

The amount of Iranian oil held at sea has dropped to 16.4 MMBO from 29.6 MMBO since the beginning of October. Prior to that, Iran’s offshore...

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