Iran’s Offshore Oil Stockpile Nears Exhaustion as Blockade Chokes New Supply
Tracking data from United Against Nuclear Iran indicate that an estimated 9 million barrels of Iranian crude were transferred in ship-to-ship operations off Malaysia during September, drawing down inventories accumulated before the US maritime blockade took effect. UANI estimates that no more than roughly 10 million barrels of Iranian crude now remain in floating storage around Malaysia's Eastern Outside Port Limits, and says no new Iranian crude has crossed the blockade line since July 14. Its monthly data show Iranian exports falling from 966,133 barrels per day in July to 49,677 bpd in August and 50,789 bpd in September, with China receiving no newly exported Iranian barrels under UANI's methodology.
Why it matters: The drawdown bears directly on the briefing's energy security theme, because continued deliveries to Chinese independent refiners would depend on depleting a finite stockpile rather than replacing exported barrels.