Iran's Oil Exports Fall to 534,000 Barrels a Day as US Sanctions Tighten

Iran's crude oil exports have fallen to about 534,000 barrels per day since the start of Shahrivar (late August), down from an average of 823,000 barrels per day in July, as tighter US sanctions and reduced tanker traffic through the Strait of Hormuz weigh on shipments. According to Oilprice.com, citing Reuters, Iran's Economy Minister Ali Madanizadeh said on Tuesday, August 25, 2026 (3 Shahrivar 1405), responding to the new US sanctions package called "Operation Economic Outcast," that Iran has its own tools to respond. He said Russia and China have not accepted the new sanctions and that he expects other trading partners to follow suit. China, which buys more than 80 percent of Iran's crude exports, remains Iran's largest oil customer, the report said.