Iran's oil production under blockade
The U.S.-imposed naval blockade on Iran since August has significantly disrupted its oil movement, with approximately 36 million barrels of oil piled up aboard laden ships stuck in the Gulf waters, in addition to the difficulty of returning empty tankers to Iranian ports. This has led to the suspension of Iranian oil exports and a decline in both production and revenue, as the volume of exported oil has noticeably decreased and activity in the industrial and natural gas sectors has diminished. Meanwhile, the Iranian rial continues to devalue, impacting the overall economy.
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