Iran's crude oil exports and production have declined since the May 2018 announcement by the United States that it would withdraw from the Joint Comprehensive Plan of Action (JCPOA) and reinstate sanctions against Iran.
The announcement included two wind-down periods to allow those doing business that involved Iran time to comply. On August 6, 2018, the first wind-down period ended and triggered the re-imposition of some sanctions. On November 4, 2018, the second wind-down period will end and trigger the re-imposition of full sanctions, including a number of measures that target Iran’s energy sector.
Full report from EIA: https://www.eia.gov/todayinenergy/detail.php?id=37352
Iran's falling oil exports - Oct 23 per EIA
Iran's falling oil exports - Oct 23 per EIA
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group