US blockade keeps Iranian crude exports at zero in October, report says
USO•Iranian seaborne crude exports fell to zero in the second week of September and remained there as of October 5, while 43 million barrels were trapped west of the Strait of Hormuz, a Vortexa report said.
1. Exports remain halted
Iranian seaborne crude exports fell to zero in the second week of September from a 14-day average of 230,000 barrels per day at the start of the month and remained there as of October 5, Vortexa said. Iranian crude in tankers on the water fell to 83 million barrels, with 43 million barrels trapped west of the Strait of Hormuz due to the US blockade.
2. Other flows shift
Vortexa said Iranian liquefied petroleum gas exports fell 48% month-on-month to their lowest level since at least January 2023. Russia accounted for 80% of the high-risk exports from Iran, Russia and Venezuela; the three countries’ combined exports were 4.73 million barrels per day in September, down from 6.39 million a year earlier. Russian exports, excluding Caspian Pipeline Consortium and KEBCO crude, rose 6% month-on-month to 3.79 million barrels per day.
