WANA (Aug 01) – Iran’s Oil Minister has firmly rejected recent foreign media claims that over 40 million barrels of Iranian crude oil are sitting unsold at sea, describing the reports as “completely false.”

 

In response to reports from international outlets, which alleged a buildup of Iranian oil both offshore and on land — particularly destined for China — the minister clarified that oil sales are being actively managed according to market conditions.

 

“We sometimes hold or reposition cargoes due to market-driven reasons,” the minister stated. “But I categorically deny that 40 million barrels of Iranian oil are stranded on the water.”

 

He emphasized: “We don’t have oil that we can’t sell — such a situation doesn’t exist.”

 

The remarks come amid claims that an oversupply of stored oil has contributed to falling prices and steep discounts on Iranian crude. However, the minister dismissed these assertions, stressing that such operational strategies are normal in oil marketing and do not reflect sales difficulties.

 

In a separate comment, Oil Minister Paknejad addressed concerns about whether the production of 200 million liters of gasoline during the recent 12-day “imposed war” period had strained refining infrastructure.

 

“It was managed,” he said. “When there’s a sudden surge in distribution and consumption, we implement solutions — and, by God’s grace and the efforts of our colleagues, we managed it successfully.”

 

The claims about unsold oil at sea, which originated in recent reports by some outlets, suggested a worrying trend in Iran’s oil export market, particularly to China. The Iranian Oil Ministry has now officially rejected these claims.

Wana - Oil