Iran’s Unused Oil Storage Shrinks to 22 Days or Less, Kpler Says

Iran is rapidly running out of places to store crude oil, threatening to accelerate production cuts in what was once OPEC’s second-largest source, according to research firm Kpler.

The Islamic Republic has enough unused storage capacity to last another 12 to 22 days, Kpler analysts wrote in a report Monday. That is raising the prospect that Iran may be forced to cut daily oil output by another 1.5 million barrels by mid-May, they added.