Iran’s Vanishing Floating Storage
What is the role of China? (With three charts)
EOA’s Main Takeaways:
Iran’s floating storage has vanished, even without an apparent deal with the Biden Administration (Bullish).
In case of a nuclear deal, there is no more Iranian oil to be added to the market (Bullish).
Some estimates have exaggerated Iran’s oil production increases in 2023 (Bullish).
Iran’s large floating storage has vanished as shown in Figure (1) below!
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