Oil Exports From the Gulf Nearly Tripled Before US-Iran Memorandum Expired
Data from commodity analytics firm Kpler shows that around 374 million barrels of oil left the Gulf during the 60-day window covered by a memorandum of understanding between the United States and Iran, marking a near-tripling of flows.
New data show a sharp rise in oil exports from the Gulf region during the period when a memorandum of understanding (MoU) between the United States and Iran was in effect. According to figures compiled by commodity analytics firm Kpler, roughly 374 million barrels of oil left the Gulf during the 60-day window covered by the agreement.
The data indicate that oil flows out of the region nearly tripled during this period. Kpler tracks global shipments of energy and other commodities, using vessel-tracking and related data to estimate trade volumes moving through key routes such as the Gulf.
The memorandum between Washington and Tehran has now expired. It covered a two-month period during which this significant rise in exports was recorded. The Gulf is one of the world's most important oil export regions, meaning changes in its export volumes can have an effect on global oil markets and prices.
The source report does not provide further detail on the content of the memorandum, the circumstances surrounding it, or the specific reasons behind the sharp increase in exports during this window. It also does not specify how this figure compares with oil export volumes since the memorandum expired.
Analysts and market participants are likely to continue monitoring how oil export volumes from the Gulf evolve now that the bilateral arrangement is no longer in place.
