Iran’s oil loading onto shipping vessels has surged to nearly three times its weekly average, reaching about 2.7 million barrels last week, while the monthly rate increased by 50%. Most of this activity is occurring “dark,” complicating tracking efforts. Meanwhile, almost 200 million barrels are estimated to be accumulating offshore as China reduces its oil purchases from Iran. In response, the US Treasury has sanctioned 12 vessels involved in transporting Iranian petroleum under sanctions.
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