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Iran’s crude/condensate exports averaged 1.4mbd in 2023, a record-high since sanctions were fully imposed in 2019
China imported record volumes of Iranian crude in 2023, amidst tightness in discounted Russian and Venezuelan feedstocks
STS zones saw over 1mbd of Iranian crude/condensate in 2023
More than 250 tankers were involved in Iranian crude/condensate trade in 2023, VLCCs accounted for 50%
Chinese tanker operators dominated Iranian trade in 2023 followed by NITC and low-tax sovereigns, tankers averaged 21 years old