The volume of oil passing through the Strait of Hormuz has dropped by 60% over the past two days, according to Iranian media, which reported a significant decline in crude oil flows to around 3.8 million barrels per day.

The weekly average of oil transported through the strait is estimated at approximately 9.3 million barrels per day, The Caspian Post reports, citing Tasnim news agency.

The report comes after an adviser to Iran’s Islamic Revolutionary Guard Corps (IRGC) said the Strait of Hormuz is “fully controlled” by Iran and will remain closed until the United States accepts Tehran’s demands.

The adviser also said that the amount of oil currently being smuggled out of the strait is “very small.”