Iran’s largest oil terminal boosts capacity to 8 million bpd

Oilprice.com reported weekend’s comments by Pirouz Mousavi, the managing director of the Iranian Oil Terminals Company (IOTC), late-Monday, citing that the Kharg oil terminal in Iran has increased its crude oil loading capacity to 8 million barrels per day (bpd).

According to official data quoted by Iranian economic daily Financial Tribune, Iran’s exports are currently more than 2 million bpd of crude oil, plus another 600,000-700,000 bpd of condensates.

The Kharg oil terminal crude loadings account for 95% of Iran’s total crude oil exports, Mousavi added. 

Meanwhile, both crude benchmarks trade steady, with WTI around $ 43.50, while Brent keeps $ 46 mark.