Oil Minister Denies Report on Barrels of Iranian Oil Stranded at Sea

Iran’s oil minister has rejected claims by foreign media that more than 40 million barrels of Iranian oil are stranded at sea, calling the reports baseless.

“We fundamentally have no oil that we are unable to sell,” Oil Minister Mohsen Paknejad said, responding to recent reports from outlets including Bloomberg and S&P Global’s Platts suggesting a significant stockpile of unsold Iranian crude.

“These reports are inaccurate,” he said. “In oil sales, we may delay or relocate shipments based on market dynamics, but that is a strategic decision—not because we lack buyers.”

Addressing concerns about the impact of the recent 12-day conflict on domestic fuel supply, Paknejad said Iran successfully managed a surge in gasoline distribution, reaching up to 200 million liters per day. “It was handled through proper planning, thanks to divine support and the efforts of our colleagues in the sector,” he said.

According to ILNA, recent international reports claimed Iran is struggling to sell oil to China due to a sharp buildup of crude inventories both onshore and offshore. The reports linked the situation to falling prices and heavy discounts on Iranian oil—claims the oil minister firmly denied. - Shana