Iran's crude oil and condensate exports in May fell to the lowest level in at least six years, dropping below 300,000 barrels per day, according to shipping data and analyst estimates. The decrease is primarily due to the U.S. naval blockade imposed on 13.04.

According to Vortexa, the average daily export volume in May was around 209,000 barrels. This is a sharp drop compared to 1.34 million barrels per day in April and nearly 1.9 million barrels per day in March.

May's figures were the lowest since late 2019 - early 2020, when former US President Donald Trump was implementing a 'maximum pressure' policy on Iran during his first term, notes Vortexa.

The blockade from the US has restricted Iranian exports amid a supply shortage in global oil markets. The actual closure of the Strait of Hormuz by Iran led to reduced supplies from Saudi Arabia, Kuwait, Iraq, and the UAE.

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