Data shows that Iran's crude oil and condensate exports in May fell to their lowest level in at least six years. Vortex estimates that the export volume in May was about 209000 barrels per day, lower than the 1.34 million barrels per day in April and the 1.9 million barrels per day in March, and the lowest since the end of 2019 to early 2020. Analyst Claire Jungman stated that the unstable situation in the Strait of Hormuz, the US Navy's restrictions on Iranian port vessels, and concerns about the security environment among ship owners, operators, insurance companies, and trading parties are the main reasons. Kpler estimates that the export volume in May was about 260000 barrels per day, also the lowest in six years.
