Iran begins cutting oil production amid blockade concerns

Iran has started reducing its oil output to prevent storage facilities from reaching capacity amid a US maritime blockade, Bloomberg reports, citing a senior Iranian official.

The blockade, introduced on April 13, has forced Tehran to navigate an intensifying pressure campaign targeting its primary source of income.

Tehran initiated the cuts in advance rather than waiting for storage sites to become completely full. 

Iranian engineers are said to have the expertise to safely suspend operations at oil wells without causing significant damage, allowing production to resume quickly when needed.

By Jeyhun Aghazada