Iranian Oil Supply to Chinese Refiners Squeezed by US Blockade

Markets Commodities Contact us:Provide news feedback or report an error Confidential tip?Send a tip to our reporters Site feedback:Take our Survey By Rong Wei Neo August 21, 2026 at 5:19 AM UTC The amount of Iranian oil that’s readily available to Chinese buyers is rapidly running out, showing the effectiveness of the US blockade of the country’s ports at choking off revenue to Tehran. About 40 million barrels of the Islamic Republic’s crude is sitting on vessels near Singapore, in an area that’s a popular ship-to-ship transfer location for oil heading to China, according to Kpler . However, only 10% of that, or two supertanker cargoes, remains unsold, the data intelligence firm said, citing market participants.