Iran Exports Over $6 Billion in Oil Products Before US Blockade Reinstatement

Between June 18 and July 13, Iran exported more than $6 billion worth of oil products, totaling over 80 million barrels, according to TankerTrackers.com. The U.S. reinstated a blockade on Iranian oil exports on July 13, which limited Iran's ability to ship out its remaining storage capacity, leaving approximately 30 million barrels of crude oil unable to be exported. TankerTrackers reported that over 60 million barrels of floating storage capacity remained within the blockade perimeter. In the days leading up to the blockade's reinstatement, Iran increased its oil shipments, sending out over 10 million barrels overnight on July 8-9 and 20 million barrels within 24 hours after the blockade was initially lifted in June. Estimates suggest that Iran's total oil storage capacity is around 95 million barrels, with floating storage potentially increasing this to about 155 million barrels.