Iran has built a large offshore crude stockpile that could help sustain both its exports and Chinese buyers in the event of a Strait of Hormuz disruption lasting weeks or months. Exports remain elevated at around 1.8–2.1 million barrels per day, with most shipments flowing to Chinese “teapot” refiners. An estimated 160 million barrels of Iranian oil is already stored at sea. The buffer is seen as providing Tehran with additional leverage amid ongoing tensions with the United States and threats t

Iran has built a large offshore crude stockpile that could help sustain both its exports and Chinese buyers in the event of a Strait of Hormuz disruption lasting weeks or months. Exports remain elevated at around 1.8–2.1 million barrels per day, with most shipments flowing to Chinese “teapot” refiners. An estimated 160 million barrels of Iranian oil is already stored at sea. The buffer is seen as providing Tehran with additional leverage amid ongoing tensions with the United States and threats targeting oil flows.