Key facts
- Iran's crude oil and condensate exports averaged 209,000 bpd in May.
- This is the lowest export level recorded in at least six years.
- Exports in April were 1.34 million bpd, and in March were 1.9 million bpd.
- Tightening U.S. naval blockades are cited as the primary reason for the decline.
- Two-thirds of outbound tankers are 'going dark' by switching off AIS to transit the Strait of Hormuz.
Iran's oil exports experienced a significant decline in May, reaching their lowest point in at least six years. According to shipping data from Vortexa, the country exported an average of just 209,000 barrels per day (bpd) of crude oil and condensate during the month. This represents a sharp drop from the 1.34 million bpd recorded in April and the nearly 1.9 million bpd seen in March. Kpler, another data analysis firm, provided a slightly higher estimate for May exports at 260,000 bpd, but this figure still marks the lowest level since the height of the Trump administration's "maximum pressure" sanctions campaign. The tightening U.S. naval blockade is identified as the primary factor choking off crude shipments. Analysts report that two-thirds of outbound tankers are now 'going dark' by switching off their Automatic Identification System (AIS) before and after transiting the Strait of Hormuz, a technique used by Iran's shadow fleet to transport sanctioned oil.