🛢 Iran only has only 12 to 22 days of capacity left in storage of oil production before they’re forced to halt production.
Because the U.S. naval blockade has cut exports by roughly 70%, shipments through the Strait of #Hormuz have nearly stopped, and no tankers are getting through.
If this continues, Iran may be forced to cut production by another 1.5 million barrels per day by mid-May, on top of the large reductions already made.
Even so, the financial impact won’t be immediate, since oil shipments take time to reach buyers and payments are delayed, giving Iran a few months of breathing room despite the growing supply crunch.