Iranian oil exports fall sharply under US sanctions

Tracking data from carriers and satellite images show a sharp decline in Iranian oil exports during August 2026, decreasing by up to 40% compared to the July average. Exports fell to around 500,000 barrels per day, down from approximately 740,000 barrels in July. This decline is attributed to the renewed US naval blockade following the collapse of the temporary agreement at the Strait of Hormuz, which has left the Port of Kharg empty of supertankers and halted most export operations. Despite American pressures, Iran continues to rely on its capabilities to control the Strait of Hormuz and is willing to bear the economic costs to maintain its stance, while the White House monitors the increasing economic challenges imposed on Tehran.

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