Iran’s Oil Exports Have Collapsed to ZERO
Iran’s oil industry has been brought to a standstill, and the economic consequences are becoming impossible to ignore. Iran’s seaborne crude oil exports collapsed from a 14-day average of 230,000 barrels per day at the beginning of September to ZERO, remaining there into October. This is an extraord
Source: Armstrong Economics
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DW NOTE
Iran's seaborne crude exports fell from 230,000 barrels per day in early September to zero in October — but this is not a supply shock, it is an arithmetic consequence of the Hormuz closure now entering its eighth month. The Strait remains effectively sealed since February 28, with only 2 ships transiting on October 11 versus the normal 85 per day, and Iran cannot export what it cannot ship.