Iranian Exports Collapse as Enforcement Pressure Widens

Iranian crude exports plummeted 84% to 186,000 barrels per day in May 2026, marking the lowest level since February 2020, as U.S. blockade enforcement intensified with the June 2 disabling of the sanctioned tanker MT LEXIE. Windward identified 27 additional fraudulently flagged dark fleet tankers matching LEXIE’s operational profile in the Gulf of Oman, while Iran’s Kharg Island resumed loading operations across both primary terminals following infrastructure recovery.