Iranian crude oil exports plummet in the face of US blockade of Strait of Hormuz

Iranian crude oil exports have plummeted as the U.S. reimposes its naval blockade of the Strait of Hormuz as part of President Donald Trump's plan to put economic pressure on the regime into ending its own blockade of the vital trade waterway. 

Tehran has loaded about 260,000 barrels of oil per day for export at its ports so far this month, which is a decline of more than 80% compared to the 1.7 million bpd in August 2025, CNBC reported, citing data from the trade intelligence firm Kpler. 

On July 14, Trump reimposed the blockade in retaliation for Iran attacking oil tankers transiting the strait. Iran's crude exports are down 70% in August from 893,000 bpd last month. 

The exports are a crucial revenue stream for Iran, and the Trump administration says the blockade will decimate the country's economy, forcing it to capitulate to U.S. demands, Bob McNally, president of Rapidan Energy, told CNBC.