Iran Has 22 Days of Oil Storage Left
Iran's oil storage is almost full. Kharg Island — where 90% of Iran's crude exports flow — is at 74% capacity and rising by a million barrels a day. Since the US Navy sealed the Strait of Hormuz on April 13th, Iranian exports collapsed from 2.1 million barrels a day to just 567,000. Goldman Sachs says Iran has already cut 2.5 million barrels of daily output. Some of those wells may never restart. JPMorgan says full recovery won't come until 2028. The blockade hasn't just stopped Iran's oil — it may have killed it. Sources: Bloomberg, Kpler, Goldman Sachs, JPMorgan, Al Jazeera, Fortune #iran #oilcrisis #hormuz #blockade #geopolitics #khargisland #oilstorage #usnavy #sanctions #oil #persiangulf #moneymaps
Transcript
Iran has 22 days of oil storage left. When it runs out, the damage could be permanent. Kharg Island handles 90% of Iran's crude exports. Over a million barrels a day flowed through here — until the US Navy sealed the strait on April 13th. Exports collapsed from 2.1 million barrels a day to 567 thousand. The oil has nowhere to go. Storage is 74% full. Filling by a million barrels every day. Goldman Sachs says Iran has already cut 2.5 million barrels of daily output. The routes to China, India, Japan — all frozen. Kpler estimates 22 days of storage left. Maybe less. Iran's oil fields are old. Shut a well for more than a month and water floods the reservoir. Wax clogs the pipes. JPMorgan says Iran won't recover to pre-war output until 2028. The blockade hasn't just stopped Iran's oil. It may have killed it. Follow Money Maps for more.
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