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Data shows that crude oil exports through the Strait of Hormuz in August decreased by 39% year-on-year, and Iran's exports may fall to zero.
Middle Eastern crude oil exports in August were down 39% from the January-February baseline of 18.5 million barrels per day (bpd), with a current deficit of 7.2 million bpd, according to data released Sunday by maritime intelligence firm TankerTrackers. The company stated that Iran's crude oil exports of 1.68 million bpd are likely to remain at zero for the foreseeable future, depending on any agreements. The U.S. military reported that approximately 90 merchant vessels have been diverted and several others damaged or boarded since the naval blockade was implemented in mid-July.
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