US embargo stops Iranian oil exports
Iran's crude oil exports stopped due to the U.S. sanctions in October, dropping to zero in the second week of September after averaging 230,000 barrels per day. The United States issued permits enabling its companies to initiate exports again, leading to the accumulation of approximately 43 million barrels of oil on tankers in the Gulf waters. There was also a significant decline in Iran's LPG (liquefied petroleum gas) exports, decreasing by 48% to the lowest level since January 2023. Meanwhile, Russia's exports increased by 6%, reaching 3.79 million barrels per day, bringing the total exports of Iran, Russia, and Venezuela to 4.73 million barrels.
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