Iran’s oil ministry reported on Saturday that the country sold $18 billion worth of crude oil during the recent war and the subsequent ceasefire with the United States.
The disclosure, which includes $11.5 billion in sales attributed to the conflict period, signals that Tehran maintained significant export capabilities despite the geopolitical turmoil and naval restrictions that previously hampered its energy sector.
The revelation adds a new layer of complexity to the global oil supply picture.
While earlier reports indicated that Iran had exported over 40 million barrels since the US lifted its naval blockade, this latest figure suggests a much larger volume of trade occurred even during the height of tensions.
For market participants, the data implies that Iranian supply has been more resilient than previously modeled, potentially dampening the upward pressure on Brent crude that had been driven by fears of a total export shutdown.
This development follows a series of warnings from Iranian officials regarding shipping routes in the Strait of Hormuz.