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Iranian Oil Exports Slid to Lowest in at Least Six Years in May, Reuters Analysis Shows

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Iran's crude oil and condensate exports fell below 300,000 barrels per day in May, an at least six-year-low for that month, pressured by the US Naval blockade, according to a Reuters analysis published Thursday.

According to Vortexa, Iran's exports slumped to an average of 209,000 b/d last month, the lowest since end-2019 and early 2020, and compares to 1.34 million b/d in April and 1.9 million b/d in March.

Kpler data indicated a similar decline in Iran's May exports projecting it at 260,000 b/d, a six-year low, the report said.

Meanwhile, a decline has also been observed in the volume of Iran's oil stored on ships with more tankers unloading in China, the report said.

About 67 million barrels of the total 147 million barrels of the country's crude and condensate floating in storage is trapped in the Mideast Gulf and Gulf of Oman, the report said citing Kpler data.

In late April, total Iranian volumes in floating storage were projected at a record high of about 190 million barrels, the report added.

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