Iran exports 1.4 million barrels of crude per day despite US naval blockade: IEA

The International Energy Agency (IEA) has reported that Iran is exporting 1.4 million barrels of crude oil per day despite a US naval blockade. This revelation comes in the IEA's latest oil market report, which highlights the impact of US-Israeli military actions against Iran on global oil supplies.

According to the report, OPEC oil production fell by 620,000 barrels per day in April, the second month of the US-Israeli war against Iran, to 20.18 million barrels per day. This decline follows a massive drop of 8.95 million barrels per day in March, the first month of the conflict, attributed to the blockage of the Strait of Hormuz and regional tensions. Over the two-month period, OPEC's total production has decreased by 9.57 million barrels per day, representing a 32% reduction.

The report notes that other OPEC members outside the Persian Gulf region have been unable to effectively compensate for the production losses from the Gulf area. The sustained Iranian exports, despite the blockade, indicate that Tehran has managed to maintain some level of oil trade through alternative routes or methods.

The IEA's findings underscore the significant disruption to global oil markets caused by the US-Israeli military campaign against Iran, which has targeted Iran's oil infrastructure and imposed a naval blockade. The agency's data suggests that Iran's resilience in maintaining exports has contributed to the overall decline in OPEC output, as other members struggle to fill the gap.

According to the Mehr News Agency, the report highlights the ongoing challenges in the global oil market amid geopolitical tensions in the Middle East.