Vortexa: U.S. blockade reduces Iran's crude oil exports to zero, no recovery yet in October.

BlockBeats news, October 14 — According to a report by energy intelligence platform Vortexa, the U.S. maritime blockade caused Iran's seaborne crude oil exports to drop to zero starting from the second week of September, and they had still not recovered as of October 5, compared with a 14-day average export volume of 230,000 barrels per day in early September.

Currently, Iran's offshore tanker oil storage has fallen to 83 million barrels, of which 43 million barrels are stranded west of the Strait of Hormuz due to the U.S. blockade. Vortexa said the U.S. blockade has effectively cut off the channel for Iranian crude oil to leave the Persian Gulf. Iran's LPG exports fell 48% month-on-month, the lowest level since at least January 2023.

At the same time, Russia's crude oil exports rose 6% month-on-month in September to 3.79 million barrels per day, accounting for about 80% of the combined high-risk crude oil exports of Iran, Russia, and Venezuela. The three countries' total exports in September were 4.73 million barrels per day, down from 6.39 million barrels per day in the same period last year. In addition, Gulf region oil exports excluding Iran have recovered to more than 81% of pre-war levels, mainly driven by a rebound in Saudi exports. (Jinshi)