Iran's oil revenues are rapidly declining and the floating oil stockpile outside the U.S. naval blockade could be exhausted by October, The Zioneer reports Tuesday, citing a Hebrew-language report. The findings align with The Wall Street Journal reporting that the stockpile has fallen to 29 million barrels, with exports halted since mid-July.
The Zioneer reports Tuesday that a new Hebrew-language report indicates Iran's oil revenues are rapidly drying up and the floating oil stockpile outside the U.S. naval blockade could run out by October.
The report echoes The Wall Street Journal's findings, as covered by The Zioneer earlier Tuesday, which showed that the floating stockpile of Iranian crude on tankers outside the Gulf had fallen from 90 million barrels to 29 million barrels since the blockade halted exports in mid-July. The Journal also noted that payments for cargoes already delivered to Chinese buyers could dry up by December.
The depletion of Iran's oil income represents a major success for the U.S. sanctions and naval blockade strategy, which has progressively cut off the regime's primary revenue source. Previous Zioneer reporting documented a 19% production drop in June and an 84% export decline in May, underscoring the sustained economic pressure on Tehran.
2 developments
- DevelopingBloomberg: 63 million barrels of Iranian oil stranded on tankers after US cancels waiver
- DevelopingReport: Iran exported over 80 million barrels of oil in 26 days before US reimposed blockade
- StrongTankerTrackers: Iran exported 40 million barrels of crude since June 15, half shipped Friday
- DevelopingTanker Trackers data shows Iran's crude oil exports completely halted since Strait of Hormuz closure
Source and signal
- Open-source intake