Iran
net exporterExports under sanctions – almost entirely to China.
How much oil?
Produces 3.3 million barrels a day. Uses 55% at home and sells 1.6 million (45%) abroad – one supertanker a day.
Where does it go?
| Buyer | share | thousand b/d |
|---|---|---|
| China | 88% | 1,409 |
| other destinations (not on the map) | 12% | 191 |
Which way?
- Strait of Hormuz88% of exports · 1,409
- Strait of Malacca88% of exports · 1,409
Real risk: Strait of Hormuz – 88% of exports this way. Iran has repeatedly threatened to close the strait; tankers were attacked in 2019 and 2024.
Main terminal: Kharg Island