Chinese refineries are now competing for ships and crude in other markets after being the primary buyers of Iranian oil. Tehran shipped nearly 650 million barrels of crude in the year through April, but its volumes are disappearing from the global supply as the blockade persists.
Tuesday, October 20, 2026
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US Naval Blockade Cuts Iranian Oil Exports From 1 Million BPD to Zero
Commodities1 day ago
The Kharg Island terminal, which handles the bulk of Tehran's crude shipments, has seen no tankers since late August. A US naval blockade has choked off the country's petroleum exports, which have plummeted from almost 1 million barrels a day in July to essentially zero.
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