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According to tanker data and industry sources, Iran's crude oil exports shrank sharply in January for the third consecutive month, because even after the new U.S. sanctions were launched, its traditional customers had some exemptions, but it was still difficult for Iran to find new buyers.
Iran's crude oil exports fell sharply in November to less than 1 million barrels a day, far below the normal sales level of 2.5 million barrels a day before the U.S. announced in May that it would restart sanctions and return to the level of the previous wave of sanctions in 2012-2016.
A sharp drop in crude oil exports will severely hit Iran's budget revenue. Buyers said the sharp drop in exports in November was due to their complete uncertainty about the number of purchases they were allowed under the new US sanctions.
The United States later generously offered eight traditional Iranian oil buyers, including China, India, Japan and South Korea, exemptions to avoid soaring oil prices, but this measure did not bring much boost to Iranian oil exports.

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