It was already known that Iran's shipments were surging, but the data for August would represent a marked leg higher if maintained for the remainder of the period. The flow rate for the past 28 days shows shipments running at a rate of 2.1 million barrels a day, Bloomberg reported on Monday.
According to the report, citing Tanker Trackers data, satellite images show a new surge in Iran's flows in August amid the reduction in the supplies of other top exporters.
The report added that the increase in Iran's shipments will boost global supply when Saudi Arabia and Russia curb output.