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Iran's Oil Exports Slide in July
(Reuters) Alex Lawler - Iranian oil exports dropped in July to as low as 100,000 barrels per day due to sanctions, down from 300,000-500,000 bpd in June, according to industry sources and tanker data. "Some of the deliveries mostly to China are based on IOU contracts and are not new sales," said Sara Vakhshouri, an analyst at SVB Energy International. The July export figure is a fraction of the 2.5 million bpd that Iran shipped in April 2018. The amount held on tankers in storage had ballooned to 56 million barrels - double that of two months ago - due to a lack of buyers, said Kpler, a company that tracks oil flows.