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Turkey and Italy remain the last buyers of Iranian oil except China, India and the Middle East, according to oil tanker data. This is the latest signal that Iranian oil deliveries were hit hard by the approaching US sanctions, which are due to come into force on November 4th.

Iran has exported 1.33 million barrels per day from early October to India, China, Turkey and the Middle East. There is no evidence of Iranian oil tankers targeting Europe.

A source from the industry, which also monitors exports, estimates deliveries of 1.5 million barrels per day, including vessels not shown by the Satellite Automatic Identification System (AIS), which delivered 1 billion barrels to Italy.

This is below the 2.5 million barrels per day, reported in April, before Donald Trump to withdraw the United States from the Iranian nuclear program and restore sanctions against Tehran. The data also show a continuing decline from the 1.6 million barrel per day in September.

The expected oil loss from Iran pushed the price of crude oil up, which peaked on October 3 to 86.74 USD per barrel. Since then, Brent oil has fallen slightly to 81 USD per barrel, although some analysts say the decline in Iranian exports remains a factor.