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U.S. Treasury Secretary Yellen: Iran's oil storage space is exhausted and will be forced to halt production
ME News report, May 14 (UTC+8): U.S. Treasury Secretary Bessant said Iran’s oil reserves are full, and Tehran will need to stop oil production. After the U.S. imposed a blockade on Iran’s oil exports, a key question in this conflict is: how long can Iran’s oil that cannot be exported be stored before it runs out of space? Some analysts believe Iran still has a few weeks of storage capacity, and Tehran has begun slowly reducing production to deal with this impasse. Bessant, in an interview on CNBC’s “Financial Forum,” said that over the past three days, due to the U.S. blockade preventing oil tankers from entering or leaving the Persian Gulf, Iran has been unable to load tankers at its main oil export terminal on Kharg Island. Within the first month of the U.S. blockade, the U.S. military has forced 70 ships allegedly heading to or departing from Iranian ports to change course. (Jin10) (Source: ODAILY)