Iran's Oil Exports Collapse Amid US Blockade
Iran's oil exports have effectively ground to a halt due to a US blockade, while its Gulf rivals are rebuilding routes to global markets.
New tanker-tracking data indicates that fresh Iranian crude exports have stopped, while oil shipments from Saudi Arabia, the UAE, and other Arab producers have recovered sharply. In fact, regional crude exports averaged about 16.5 million barrels per day in September, but jumped to roughly 19.5 million bpd in the final week of the month.
This reversal is a clear economic consequence of the US-Iran confrontation, as Tehran loses access to the export revenue it depends on. The Gulf states have adapted around the Strait of Hormuz by using alternative pipelines, ship-to-ship transfers, and naval escorts.
Kpler data shows that Iranian crude loadings have effectively hit 'zero', or 'stopped'. Analyst Homayoun Falakshahi notes that Iran's oil production level could be around 1.8 million bpd, roughly enough to meet domestic consumption and about half Iran's pre-war output.