IRAN OIL EXPORTS HAVE COLLAPSED TO ZERO | ARMSTRONG ECONOMICS

What happened: Iran's seaborne crude exports fell from a 14-day average of 230,000 barrels per day in early September to zero, holding there into October. LPG exports also dropped 48% from the prior month. Key numbers: 230,000 bpd to zero; 83 million barrels of Iranian crude on tankers, 43 million west of Why it matters: Vortexa's Claire Jungman said the blockade is doing what years of sanctions never managed. China's demand for Iranian crude has weakened as Russian oil fills the gap, and Russia now accounts for 80% of high-risk petroleum exports tracked among Iran, Russia, and Venezuela.

Iran's seaborne crude exports fell from a 14-day average of 230,000 barrels per day in early September to zero, holding there into October. LPG exports also dropped 48% from the prior month.

Vortexa's Claire Jungman said the blockade is doing what years of sanctions never managed. China's demand for Iranian crude has weakened as Russian oil fills the gap, and Russia now accounts for 80% of high-risk petroleum exports tracked among Iran, Russia, and Venezuela.