Iran is loading almost three times the amount of oil it normally does onto tankers in the Persian Gulf in a sign it is anticipating a US attack that could prevent its oil from hitting the market.  Iranian oil exports from Kharg Island reached nearly 20.1 million barrels between 15 and 20 February, Bloomberg reported on Wednesday, citing Kpler data. That is the equivalent of more than three million barrels per day (bpd) and almost three times the amount loaded over the same dates in January, Bloomberg said. For comparison, Iran’s previous three-month average of loadings was 1.54 million bpd. Kharg Island is home to a massive terminal from which 90 per cent of the Islamic Republic’s oil is exported. Iran raced to get its oil out of the country and onto ships for export abroad in June 2025, just before the US joined Israel’s attack on the country. Kharg Island would also be more vulnerable to attack than the shadow fleet of tankers Iran uses to transport its oil. But Iran is not the only oil producer in the Middle East ramping up exports. Reuters reported on Wednesday that Saudi Arabia is increasing its oil production and exports as part of a contingency plan – should a US attack on Iran disrupt supplies. Saudi Arabia also made a similar […]