Iran’s oil exports started to fall noticeably in August as key customers in Asia began to curtail oil purchases to either comply with the U.S. efforts to bring Iranian exports to zero, or to win waivers with the U.S. Administration. Iran’s crude oil and condensate sales fell in August to below 2 million bpd—the lowest level in more than a year, according to tanker tracking data compiled by Bloomberg . In September, the trend of reduced Iranian oil exports has continued, and analysts expect further cuts from some of Iran’s oil customers. Going forward, there are two major factors for estimating how low Iranian oil exports could sink. One is how much of Iran’s oil China, India, and Europe will buy in October and then in November, when the sanctions kick in. The other is the concern that tanker tracking data may become less reliable, as Iran may try […]