Iran is rapidly running out of space to store its oil as President Trump continues his naval blockade in the Strait of Hormuz - which could lead to “irreversible” damage to the regime’s biggest industry and lifeblood of its economy. Massive supertankers have been spotted at Kharg Island, an oil-critical hubs. But with nowhere for the crude carriers to go with the US blockade around the Gulf of Oman, experts say it is a sign that the regime is using the vessels as floating storage. Iran has repeatedly tried to push its ships through the US naval blockade, but its ships are routinely intercepted, with six tankers forced to turn back in recent days.
“If the Iranians have to shut down oil and gas production due to a lack of storage capacity, there will be permanent damage to the productivity of the oil fields,” said Derek Reisfield, Co-Founder of Marketwatch and a former McKinsey consultant. “The damage will be irreversible,” he added. “The loss in capacity could easily be half a million barrels in daily production.”
The Critical Threats Project at the American Enterprise Institute think-tank also estimated to The Post that Tehran likely has until tomorrow night before its onshore storage facilities are filled. THAT is the only reason they'll want to talk to us. End of story...
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