Iranian Official: We Have Started Reducing Oil Production to Avoid Exceeding Production Capacity Limits

SadaNews - An Iranian official told "Bloomberg" that Tehran is working to reduce oil production to avoid exceeding production capacity limits, instead of waiting for the tanks to fill completely.

The official added, "Iranian engineers have learned under the pressure of years of wars and sanctions how to temporarily shut down oil wells without causing permanent damage to them, and to restart them quickly."

He mentioned that Iran is aware that its ongoing efforts to continue pumping oil will only be beneficial for a limited time, noting that the U.S. blockade prevents Iran from using its "shadow fleet" to transport oil.

The Iranian official stated that reducing oil production could affect about 30% of the country’s oil fields.

Officials believe that Iran has one month, and possibly less at current oil production levels, before storage capacity is reached, according to "Bloomberg."