Iran's Oil Exports Plummet Amid US Blockade
Iran's oil exports have plummeted to just 248,000 barrels per day in August, according to commodity intelligence firm Kpler. This is a stark contrast to the 1.85 million barrels of crude Iran exported daily between March and April.
The sharp decline comes as non-Iranian crude leaving the Persian Gulf has increased, with some 5.2 million barrels per day leaving in the week starting August 3, including ship-to-ship transfers.
Kpler analyst Homayoun Falakshahi said that the renewed US blockade is making it increasingly expensive for Tehran to operate under the current circumstances.
Iran's neighbors, on the other hand, have found ways to circumvent the blockade and continue shipping oil. Regional producers are shipping about 65% of what they moved before the war.
The pressure extends beyond crude exports, with petrochemical exports declining by 63% since early 2026 and corn, soybean, and wheat imports running below their five-year range.