Iran’s oil exports fall to six-year low…

Iran’s oil exports fell to their lowest level in at least six years in May as the US naval blockade continues to block crude shipments, leaving millions of barrels stranded at sea.

Iran exported 209,000 barrels of crude and condensate per day in May, compared with 1.34 million in April and nearly 1.9 million in March, according to shipping data from Vortexa. 

When the blockade first came into effect in April, analysts expected Tehran to rely on floating storage while it waited for an opportunity to move oil. But storage is no longer growing. 

 As shipments to China continue and production slows, floating inventories have fallen from about 190 million barrels at the end of April to about 147 million barrels today.

China’s imports of Iranian crude fell to 1.1 million barrels per day in May, the lowest level since January 2025.

Meanwhile, Kpler estimates that about 67 million barrels of Iranian crude and condensate are stuck in the Gulf and Gulf of Oman.

Analysts say time may be short. If the blockade continues for another two months, Kpler’s Homayun Falakshahi warned that Iran could effectively run out of oil to ship to China.