Iranian oil exports fall to six-year low

According to the analytical company Vortexa, Iran exported 209 thousand barrels of oil and condensate per day in May, 84.4% less than in April and 89% less than in March.

The analytical company Kpler estimates May exports from Iran slightly higher – at 260 thousand bpd – however, even according to this estimate, we are talking about a six-year minimum.

At the same time, contrary to expectations, Iranian oil reserves in floating storage facilities have also decreased. Analysts attribute the May decrease in extracted oil reserves to the beginning of a decline in production rates.

At the same time, there is a decrease in the volume of purchases of Iranian oil by China to a minimum since January 2025.