Iran's Oil Exports Face Challenges Amid US Blockade in Strait of Hormuz
The recent U.S.-imposed blockade at the Strait of Hormuz has significantly disrupted Iran’s crude oil exports, reducing loadings from around 1.5 million barrels per day (b/d) to just 260,000 b/d by May and further declining in June. This has turned a previously profitable export strategy into an economic burden as Iranian onshore inventories rise.
Topics: Iran-US relations oil exports sanctions Strait of Hormuz crisis