Iran’s floating storage has increased to 28.95 million barrels of oil and condensate in the past week, marking a rise of 2.1 per cent, a report said.

A total of 38 tankers with stored oil were parked in sea lanes close to terminals in four Iranian ports, said Fars News Agency, citing shipping data and sources which track tanker movements.

Figures show 61 per cent of the space for storage has been filled up, the report added.

Shipments from Tehran were about 620,000 barrels per day (bpd) oil in November — down from 765,500 bpd in October, but well above 138,100 bpd in November 2016, reported Reuters.

Supplies from Iran to India more than doubled in January-November to 468,900 bpd from 205,900 bpd in the same period last year, the data showed.

Eni-Iran tie-up

Separately, Italian oil giant Eni had signed a contract to buy between 60,000 and 100,000 barrels per day of oil from National Iranian Oil Company for one year starting from January, Mehr News Agency reported.

The deal is the biggest sale of Iranian oil to Italy after Saras signed to take in 35,000-60,000 barrels per day of crude oil from the Middle East producer earlier this year, the report said.