The Wall Street Journal reported that Iran had previously stored millions of barrels of crude oil on dozens of tankers to raise cash, but those reserves were fully depleted by mid-October. According to the report, the floating stockpile had served as a source of liquidity for Iran. Kpler analysts said the U.S. Navy blockade hindered Iran’s ability to replenish crude supplies. The report did not provide additional figures beyond the scale of the earlier reserves and the timing of their depletion. The development, as described by the Journal, centers on the exhaustion of oil held offshore and the supply constraints cited by Kpler.
According to The Wall Street Journal, Iran had previously stored millions of barrels of crude oil on dozens of tankers to raise cash, but those reserves had been fully depleted by mid-October.
Kpler analysts said a U.S. Navy blockade hindered Iran’s efforts to replenish crude supplies.
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