Iran Can Weather Oil Export Block for Up to Two Months

Iran's oil exports have been blocked by the US since April 13, which could prevent around 2 million barrels per day of crude from reaching its main buyer China.

Analysts say that Iran can sustain current production levels for up to two months before being forced to cut output, although Energy Aspects estimates this period would be much shorter due to limited storage capacity.

FGE NextantECA estimates Iran has around 90 million barrels of available onshore crude storage capacity, out of a total capacity of roughly 122 million barrels. This could allow the country to maintain current export levels for about two months before being forced to reduce production.

However, Energy Aspects assumes significantly lower storage capacity and believes that Iran's output would need to be reduced substantially if the blockade continues into May.