Iran managed to sell a combined $18 billion worth of crude oil across both its active war with Israel and the subsequent ceasefire period. The breakdown: $11.5 billion in sales during the war phase, and another $6.5 billion during the ceasefire.
How Iran kept the oil flowing
In March 2026 alone, Iran exported approximately 35.7 million barrels of crude, valued at around $3.63 billion. Year-to-date through the conflict period, total exports reached roughly 145.7 million barrels, generating approximately $11.2 billion in revenue despite active wartime disruptions.
During the early war months of February and March, daily revenues reached approximately $115 million to $139 million. Higher oil prices, which surged to $100 to $120 per barrel amid the fighting, partially compensated for reduced volumes.
The US naval blockade eventually took a real bite. By May 2026, Iranian exports had been squeezed below 300,000 barrels per day, leading to an estimated $6 billion revenue shortfall.
