Iran's crude oil exports fell to their lowest level in six years in May, averaging just 209,000 barrels per day — a sharp decline from nearly 1.9 million barrels per day in March, according to shipping data from Vortexa. The collapse, driven by a US naval blockade enforced since 13 April, has stripped Tehran of nearly $6 billion in oil revenue, with analysts warning the situation is far from over.
The scale of the drop — 89% in just two months — has sent tremors well beyond Iran's borders. With roughly 27% of the world's maritime crude trade passing through the Strait of Hormuz, the disruption has created what the World Bank described as the largest oil market disruption in history.
