Experts predict Iran could gradually scale back oil production if the US naval blockade of Hormuz persists.
Experts predict Iran could gradually scale back oil production if the US naval blockade of Hormuz persists.
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The US naval blockade of Iranian ports and the Strait of Hormuz, in place since April 13, has raised concerns that Iran could run out of crude oil storage capacity and be forced to curb production.
Bloomberg reported analysis on Tuesday from the data and analytics company Kpler suggesting Iran could run out of crude storage in 12 to 22 days if the blockade persists.
Iran earned $5bn in oil exports in past month while it shut the strait for most other ships. That revenue is at risk.
Iran has scared off most ships from the Strait of Hormuz, leaving some ships to pass through, while most continued to wait…
Baghdad Today reported that Iran had anticipated a US blockade of its ports and therefore moved dozens of oil-laden tankers out…
The finding suggests that Tehran could continue to throttle the strait to keep energy prices high.
The Strait of Hormuz is the narrowest point in the Persian Gulf and a vital link for oil shipments. See where it is and what…
US President Trump meets with oil firms over ways to minimise impact on fuel supplies amid US blockade of Iranian ports.
