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[Hot Topic: Iranian Oil Exports Reportedly Hit Two-Year High, Conflicting Official Accounts Amid US Blockade] 1. Fars News Agency reported on September 20 that despite the US Navy's blockade of Iranian ports, Iran's oil exports in the last 30 days reached their highest monthly level in two years. The report stated that monthly sales exceeded $3 billion, but did not disclose the average daily export volume during the same period. 2. The report also cited data from Iran's Planning and Budget Organization, stating that oil revenues in the first half of the Iranian calendar year, which began on March 21, have exceeded the estimates in this year's budget. The budget assumes crude oil and condensate export revenue of approximately $25.4 billion, a benchmark price of $54 per barrel, and a daily export volume of approximately 1.045 million barrels. 3. The report mentioned that since mid-July, the US military has imposed a second maritime blockade on southern Iranian ports and ships and tankers associated with Iran. The US Central Command stated that the blockade has forced dozens of related ships to turn back or change course. Earlier this month, after Iran launched anti-ship ballistic missiles at US warships, the US military also attacked at least five Iranian oil tankers. 4. Iranian crude oil production has declined significantly since the outbreak of the war. OPEC's latest monthly report shows that Iran's crude oil production in August was 2.1 million barrels per day, a 34% decrease from 3.2 million barrels per day before the US-Israel war at the end of February. A senior Iranian lawmaker stated last month that while exports are difficult, rising oil prices still help increase revenue. 5. Before the war, oil prices were above $70 per barrel; after Iran restricted passage through the Strait of Hormuz in early March, prices rose above $100. Since early September, oil prices have mostly been above $90, briefly exceeding $100, and are currently around $99. The Strait of Hormuz handles approximately 20% of global oil and gas transport. 6. Since the second blockade, Iranian officials have given conflicting accounts of oil sales. President Pezeshkian stated that oil that could be sold in the past is now unsellable; Central Bank Governor Hemmati stated that oil revenue has "reached zero" and exports have "virtually stopped." Oil Minister Paknejhad, however, countered that sales are continuing. For many years, China has been the largest buyer of Iranian crude oil, purchasing approximately 90%; the US threatened sanctions earlier this month against countries that purchase Iranian oil.