Can Iran Outlast the U.S. Naval Blockade of Its Oil Exports with Shadow Tankers and China’s Independent Refiners?
The U.S. naval blockade is curbing Iran’s oil export flows and swelling inventories, but gaps in enforcement are enabling workarounds such as floating storage and evasive shipping. Combined with continued purchases by China’s independent refiners, these flows are sustaining Iran’s limited exports and delaying the point at which storage constraints force production cuts with potentially … Read more