Published on 6/22/2026
Iran announced today, Monday, the export of 36 million barrels of crude oil within 5 days, since the memorandum of understanding with the United States of America entered into force on June 18, in a step that reflects a rapid recovery in oil exports after months of decline due to war and the naval blockade.
Mehr News Agency quoted the “Tanker Trackers” economic group, which specializes in tracking oil shipments, as saying that Iran has exported 36 million barrels of crude oil since the day following the signing of the memorandum of understanding until today, while almost similar quantities are still being transported or stored in the waters surrounding Iran and on board oil tankers.
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Iranian oil exports had declined to less than one million barrels per day during the US-Israeli war that broke out last February, as a result of targeting the oil infrastructure and tightening the US naval blockade, after Iran was producing about 3.3 million barrels per day and exporting nearly two million barrels per day before the outbreak of the war.
The increase in exports came after the “Islamabad Memorandum of Understanding” entered into force on June 18, following its electronic signature by Iranian President Masoud Pezeshkian and his American counterpart, Donald Trump, after it was reached on June 14 with Pakistani mediation.
Yesterday, Sunday, the Swiss resort of Bürgenstock witnessed the first round of US-Iranian talks within the framework of the understanding that aims to end the war permanently and address the differences between the two parties through dialogue and negotiations.
The 14-item agreement includes arrangements to end the war, including in Lebanon, reopen the Strait of Hormuz, and lift the naval blockade imposed on Iran.
US President Donald Trump said earlier that oil reserves would have been exhausted within 4 weeks if an agreement had not been reached.
