Iran’s oil storage on land and at sea is on the rise as U.S. sanctions on exports bite and Tehran battles to keep its aging fields operational and crude flowing, according to data and industry sources. Washington announced in May the end of sanctions waivers for foreign countries importing Iranian oil, hitting Tehran’s biggest source of income. With creaking infrastructure and an aging fleet of ships due to increasing isolation from much of the world, Iran will need to park unsold stocks of oil until it can find buyers. It is vital for Tehran to keep oil flowing as any disruption would damage its future activities due to the high costs and complexities of restarting production. Data from […]