Kpler: Iran has cut crude output by about 1.2 mbd as exports collapse under US blockade
On June 10, 2026 Kpler reported that Iran’s National Iranian Oil Company (NIOC) has already cut crude production by roughly 1.2 million barrels per day amid collapsing maritime exports and shrinking usable onshore storage; Kpler warns cuts could deepen toward 1.5 mbd if export restrictions persist.
The desk brief
On June 10, 2026 Kpler reported that Iran’s National Iranian Oil Company (NIOC) has already cut crude production by roughly 1.2 million barrels per day amid collapsing maritime exports and shrinking usable onshore storage; Kpler warns cuts could deepen toward 1.5 mbd if export restrictions persist.
If maritime export restrictions continue, further Iranian shut-ins would remove several hundred thousand to over a million barrels per day from global seaborne supply, tightening markets and lifting freight and insurance premia. That would pressure global oil prices and could worsen external balances for African fuel importers (e.g., South Africa), though actual price and sovereign spread moves depend on broader market offsets and spare production elsewhere.
Kpler or satellite storage updates, NIOC production statements, or changes to US blockade measures within the next two weeks.
Sources & verification
Developing storyFurther independent confirmation is required.
- Iran Crude Storage Crisis: Only 13.5 Mbbls Remainingkpler.com (opens in a new tab)
- Is Iran’s oil storage nearly full – and will it have to cut production?aljazeera.comSource published (opens in a new tab)
Public references supporting this brief.