Key facts
- Iran has exported 50 million barrels of crude oil since the US lifted its naval blockade.
- The blockade was lifted following a US-Iran interim agreement signed on June 17, 2026.
- A 60-day US Treasury authorization permits the sale of Iranian crude through August 21, 2026.
- Exports averaged approximately 1.66 million barrels per day in June 2026.
- China is the primary buyer of the resumed Iranian crude shipments.
- Oil prices fell over 4% after the blockade was lifted and supply resumed.
Iran has exported 50 million barrels of crude oil since the United States lifted its naval blockade on the country's energy exports, according to tanker-tracking firm TankerTrackers.com. The figure amounts to roughly 1.66 million barrels per day for June 2026.
The US naval blockade, which began in April 2026, had effectively halted Iranian seaborne crude exports, pushing them to near zero by late May. This blockade was lifted following a US-Iran interim agreement signed on June 17, 2026, which included terms governing access through the Strait of Hormuz. Subsequently, the US Treasury issued a 60-day authorization, permitting the production and sale of Iranian crude through August 21, 2026.
In the two weeks since the blockade's removal around June 18, 2026, Iran has seen a rapid surge in exports. In the first week alone, over 30 million barrels departed Iranian ports, with vessels heading primarily toward Asia, and China identified as the main buyer. This rapid influx of oil into the market has led to a drop of more than 4% in oil prices. In contrast, most other countries in the region are still struggling to reach pre-war export levels due to lingering infrastructure damage and security concerns.
During the blockade period, Iranian exports had fallen significantly from a pre-blockade rate of approximately 2.1 million barrels per day to between 209,000 and 260,000 bpd in May. The current resurgence marks a rapid turnaround, with Iran monetizing a 60-day sanctions window. Bitcoin saw a modest gain of about 2% following the news of the interim deal and blockade lifting.