A picture taken on March 12, 2017, shows an Iranian tanker and a South Korean (R) tanker docking at the platform of the oil facility in the Khark Island, on the shore of the Gulf, on March 12, 2017. / AFP / ATTA KENARE
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Iran's own fleet of tankers may provide a lifeline for its crude and condensate exports that'll be slashed as U.S. sanctions against the Gulf nation take hold. As Iran's customers give in to mounting U.S. pressure, shipments from the OPEC member may drop to under 1 million barrels a day by mid-2019, down from a daily 2.5 million this year, according to industry consultant FGE. This year, about half of Iran's 2.5 million barrels a day of crude and condensate exports have been made by domestic vessels.Islamic Republic of Iran Shipping Lines has a total crude capacity of 7 million barrels.
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