World
Iran's Oil Storage Nears Capacity – Will the Country Be Forced to Cut Production?
Iran's crude oil storage at Kharg Island is rapidly filling due to a US naval blockade at the Strait of Hormuz, with experts estimating it could reach capacity within 12-22 days. This may force Iran to gradually cut production, though some analysts suggest any halt would be a choice rather than a necessity. The blockade targets Iran's oil revenue, but Tehran still has millions of barrels in floating storage and could delay major production cuts.