Iran's oil exports constrained by blockade
Iran is facing a severe decline in its oil exports due to the American maritime blockade. Oil stocks aboard vessels have dropped from around 90 million barrels in July to approximately 29 million barrels currently, with new shipments not exceeding previous limits since the re-imposition of the blockade in mid-July, according to data from Kepler. Experts expect these reserves could run out within a few weeks, as current deliveries amount to about one million barrels per day, most of which is concentrated in the Chinese market. Iran's failure to export oil freely threatens its revenues, which rely heavily on oil, leading to a devaluation of the rial, rising inflation, and a slowdown in economic activity. Additionally, the difficulties in exporting petroleum products via land routes further jeopardize Iran's economy, possibly pushing it toward a larger crisis if the blockade continues.
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