Iranian crude oil loadings have plunged to about one-seventh of their pre-war level as the U.S. naval blockade increasingly restricts Tehran’s ability to export oil, according to tanker-tracking data reviewed by Iran International.
Iran
has loaded an average of roughly 287,000 barrels per day of crude so far this month, down from about 2 million barrels per day before the war, according to data from commodities intelligence firm Kpler.
China, Iran’s biggest oil customer, has received about 523,000 barrels per day of Iranian crude this month, compared with more than 1.7 million barrels per day at the beginning of the war.
Kpler estimates that more than 40 million barrels of Iranian oil aboard tankers in the Persian Gulf and Gulf of Oman are effectively trapped following the U.S. reimposition of a maritime blockade in mid-July.
Iran’s fuel oil exports have also fallen sharply, dropping to about 61,000 barrels per day this month from roughly 220,000 barrels per day during the first two months of the year, while exports of liquefied petroleum gas have nearly stopped, according to Iran International.
Oil and fuel oil exports generated $57.5 billion for Iran last year, representing about 55% of the country’s total exports, according to Iranian central bank data cited by Iran International.
The collapse in oil shipments threatens a major source of government revenue and foreign currency as the Trump administration prepares to impose additional economic pressure on Tehran.
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