Persian Gulf Oil Exports Rebound as US Claims Iran is 'Exhausted'

Oil exports from the Persian Gulf have recovered to 72% of their pre-war levels, with crude flow through the Strait of Hormuz nearing half of its previous volume, according to maritime data. This resurgence in exports occurs as U.S. officials state that Iran's economy is being severely impacted by U.S. Navy blockades.

US officials assert that Iran is "strangled" by the blockade, which has restricted its ports and led to a significant decline in trade. According to these officials, the increasing oil exports bolster America's negotiating position. President Trump is reportedly open to offering sanctions relief and releasing frozen assets in exchange for a verifiable nuclear deal, though hardliners in Iran have rejected such terms and even suggested withdrawing from the Nuclear Non-Proliferation Treaty.

"They are exhausted," a US official told The Post. "There’s no doubt that they’re exhausted." The official further stated that Iran is facing shortages of supplies, water, feedstock, and food, comparing the blockade's effect to an "anaconda" tightening its grip. The nation's currency, the rial, has plummeted to a new low, trading at 2.45 million to the US dollar, a stark contrast to its value of 42,000 rials per dollar a year prior.

"Operation Economic Outcast has caused the rial to hit record lows," Treasury Secretary Scott Bessent wrote on X. "We will continue to degrade the Iranian regime’s ability to fund terrorism and develop a nuclear weapon."

Maritime tracker Kpler reports that Persian Gulf crude exports averaged over 13 million barrels per day in September, approaching pre-war figures. The Strait of Hormuz itself saw an average of 7.3 million barrels per day in September, the highest during the conflict, attributed to increased U.S. military protection and a lack of confirmed Iranian attacks in nearly a week. Energy Secretary Chris Wright noted that on at least one day last week, oil flow exceeded pre-conflict levels, with over 20 million barrels passing through the Strait.

Despite these increases, the average daily ship traffic through the Strait remains less than half of pre-war levels, with Kpler data showing approximately 17 ships transiting daily. However, increased activity at the Gulf of Oman, through ship-to-ship transfers, and at the United Arab Emirates’ Fujairah pipeline, which bypasses the Strait, has contributed to the overall rise in Persian Gulf exports.

While Iranian state media claimed military strikes on 19 ships attempting to cross the Strait of Hormuz over the weekend, no independent confirmation of attacks has emerged since the previous Wednesday. The Persian Gulf Strait Authority issued a warning against ships deviating from designated routes, and an armed forces spokesman threatened U.S. intervention.

The conflict has not been without cost. At least eight U.S. Marines were injured when a cruise missile struck their vessel in the Strait. According to the International Maritime Organization, 22 seafarers have been killed in 79 confirmed attacks in the Strait since the war began.