Iran Faces Imminent Oil Shut-Ins as Storage Nears Capacity
U.S. Treasury Secretary Scott Bessent says Iran’s ‘fragile’ oil wells could shut within days as sanctions and a naval blockade squeeze storage and exports.
Owen Evans
4/23/2026|Updated: 4/23/2026
Iran is nearing forced oil production stoppages as storage tanks fill rapidly, with capacity set to be exhausted within 20 to 24 days, according to an April 22 update from Kpler, a commodities data firm that tracks global oil, gas, and shipping flows.
The firm said that Iran’s output has already fallen by around 750,000 barrels per day from pre-war levels, primarily due to lower domestic demand during the Iran war.
It said that Iran’s oil supply is being forced to adjust to “two simultaneous shocks”: damage to key infrastructure and an almost complete halt in exports.
Homayoun Falakshahi, who leads Kpler’s crude oil analysis team, said that strikes on key phases of the South Pars gas field have cut condensate production by roughly 100,000 to 120,000 barrels per day for at least six months.
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READ MORE: https://www.theepochtimes.com/world/iran-faces-imminent-oil-shut-ins-as-storage-nears-capacity-6016037?ea_src=frontpage&ea_med=section-1
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