Iranian Oil Loadings Plummet 89% Amid Ongoing Regional Conflicts

The global energy market is experiencing severe supply-side shocks due to ongoing regional conflicts. Iranian oil loadings have plummeted by approximately 89%, dropping from 1.8 million barrels per day (bpd) in January and February to just 0.2 million bpd.

This significant decrease indicates that maritime blockades are effectively halting exports, with existing buffers being rapidly depleted. Suspected Iranian oil on water has dropped by 70 million barrels, indicating that stored reserves are being consumed without being replaced.

The Strait of Hormuz and Bab el-Mandeb remain unstable, leading to increased global supply risks. This will force consumer nations to rely on alternative sourcing, boosting non-Gulf producers.