Iran’s oil exports crushed by US naval blockade, down over 80% from pre-blockade levels

Iran is shipping a fraction of the oil it was moving just months ago. Vessel-tracking data shows Iranian crude loadings averaged roughly 220,000 to 260,000 barrels per day in August 2026, a collapse of more than 80% from the approximately 1.85 million bpd the country was exporting earlier in the year. The culprit is straightforward: a US naval blockade, reimposed on July 14, that has effectively sealed the waters south of the Strait of Hormuz to Iranian tanker traffic. Zero confirmed crude shipments have made it past the enforcement line since mid-July. How the blockade tightened The numbers tell a clean story of escalating pressure. In June, after a brief lift in the blockade, Iranian loadings had rebounded to healthier levels. By July, with the reimposition kicking in mid-month, exports still averaged around 740,000 bpd as tankers that loaded before the cutoff date completed their departures. August was a different animal entirely. The full month under blockade conditions drove loadings down to that 220,000 to 260,000 bpd range, essentially reflecting only what Iran can move to nearby buyers or into floating storage without crossing the US enforcement perimeter. Dozens of commerc...