Translated with AI
Iran will likely be forced to significantly cut oil production in the coming weeks if the US naval blockade continues to restrict exports and leads to storage capacity filling up, the Financial Times reports.
According to the publication, the country exports approximately 1.8 million barrels of oil per day. If current conditions persist, inventory levels could exceed the pandemic-era record of 92 million barrels in about 16 days.
Iran's oil storage facilities are currently 51 percent full, according to estimates by Kayrros, a French environmental organization that monitors oil reserves using satellite data.
Experts note that if export restrictions continue, the country will be forced to reduce production to avoid overflowing its reservoirs.
According to Richard Bronze, head of geopolitical analysis at the consulting firm Energy Aspects, tankers have entered the Persian Gulf in recent days, allowing Iran to partially use them for oil storage. During the conflict with the US, Tehran loaded one or two supertankers daily, each capable of carrying up to 2 million barrels.
Iran currently produces about 3.6 million barrels of oil per day, with about half of that volume going to the domestic market.
Earlier, US Central Command announced its intention to begin a naval blockade of Iran in the Strait of Hormuz on April 13. The US military plans to block the movement of ships heading to and leaving the country's ports.
