Iran Oil Revenue Plummets as US Blockade Cuts Offshore Stockpiles

A U.S. maritime blockade has severely impacted Iran's oil revenue, leading to a sharp decline in crude exports. The country's crude stockpiles stored outside the Gulf have fallen from 90 million barrels to 29 million barrels, with shipments bound for China also decreasing.

Oil revenue accounts for about one-third of the Iranian government's budget, putting pressure on its fiscal capacity as export restrictions persist. This has added to broader strains on Iran's economy, fueling inflation and deepening weakness in the rial currency.