Iran says it sold 90 million barrels of oil under interim US deal

Iran just moved a lot of oil. President Masoud Pezeshkian announced the sale of roughly 90 million barrels of crude under the interim deal struck with the United States, a volume that underscores how quickly Tehran capitalized on the diplomatic opening to flood the market with stored and freshly pumped barrels.

The MoU between Washington and Tehran provided waivers on oil and petrochemical sanctions, effectively giving international buyers a green light to load Iranian crude without fear of secondary penalties.

Parliament Speaker Mohammad Baqer Qalibaf offered one of the more striking data points: over 40 million barrels were exported at a 20% premium in under 12 days once the blockade lifted. Tanker tracking data painted a broadly consistent picture, showing approximately 50 million barrels exported within two weeks of the blockade lift in mid-to-late June 2026. China remained a primary destination, consistent with its role as Iran’s largest crude customer even during periods of tighter sanctions enforcement.

Oil Minister Mohsen Paknejad broke the revenue into two buckets: $11.5 billion worth of oil sold during the conflict period and another $6.5 billion during the extended ceasefire. That totals $18 billion in crude revenue, which, divided across the roughly 90 million barrels Pezeshkian cited, implies an average realized price somewhere around $200 per barrel.

Iranian official Rezaee separately claimed in August 2026 that 70 million barrels had been sold in the prior month or two, a figure that slots neatly into the broader 90-million-barrel total when earlier shipments are included.

Frozen assets and the Qatar connection

On June 29, 2026, Pezeshkian stated that $6 billion of the $12 billion in Iranian assets frozen in Qatar would be released as a direct consequence of the MoU. The $6 billion release mirrors the controversial 2023 arrangement in which $6 billion in frozen Iranian funds in South Korea were transferred to accounts in Qatar, ostensibly restricted to humanitarian purchases.

Combined, the $18 billion in oil revenue and $6 billion in unfrozen assets represent a $24 billion injection into Iran’s economy over a relatively compressed timeframe.

What 90 million barrels means for global supply

The 20% premium Iran reportedly commanded is notable. In a typical sanctions-waiver scenario, Iranian crude trades at a discount because buyers demand compensation for the political risk of dealing with Tehran. A premium suggests buyers were so eager to lock in cargoes during the waiver window that they paid above market rates.

The durability of this export surge depends entirely on Washington’s willingness to extend or formalize the interim arrangement. The waivers were described as temporary and performance-based, reflecting ongoing geopolitical tensions that may influence future sanctions and trade dynamics.

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