Iran is reportedly taking emergency steps to keep its oil industry functioning as a U.S. naval blockade continues choking off crude exports, according to multiple international reports citing analytics firm Kpler.
Tehran is said to be reviving abandoned storage sites, using makeshift containers, and even exploring crude shipments by rail to China as export volumes collapse.
According to the reports, Iranian exports dropped sharply after the blockade intensified in mid-April — falling from more than 2 million barrels per day earlier this month to roughly 567,000 barrels daily.
Analysts warn Iran could run out of available storage capacity within just a few weeks, potentially forcing major additional production cuts if the blockade remains in place.
Goldman Sachs estimated last week that Iran has already slashed crude production by as much as 2.5 million barrels per day since the conflict began.
(YWN World Headquarters – NYC)
