16:48 - 15.04.2026

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April 15, Fineko/abc.az. Iran may sharply cut oil production in the next 2 weeks because of the threat of a US naval blockade that could stop exports and overflow its storage facilities, ABC.AZ reports with reference to Financial Times (FT).

According to the newspaper, the underground oil storage facilities in the Islamic Republic are already 51% full. Iran exports nearly 1.8 million b/d. Analysts have calculated that if production continues at the same volume, then in just 16 days reserves in storage facilities will exceed the record level of the pandemic period of 92 million barrels.

Richard Bronze, an expert on geopolitics at the Energy Aspects consulting company, whose opinion is cited by the FT, notes that Tehran has a temporary solution. In recent days, tankers that can serve as floating storage facilities have entered the Persian Gulf. In the past, during the escalation of relations with Washington, Iran loaded one or two supertankers daily. Each such vessel is capable of handling up to 2 million barrels.

Iran's current production is 3.6 million b/d. Half of this amount is consumed domestically.