US Treasury Secretary Yellen: Iran's oil reserves have been depleted and will be forced to halt production

Golden Ten Data, May 14—U.S. Treasury Secretary Bessent has stated that Iran's oil storage is full and Tehran will need to halt oil production. After the U.S. imposed a blockade on Iranian oil exports, the key issue in this conflict became: how long can oil that Iran cannot export be stored before it runs out of space. Some analysts believe Iran has several weeks of storage capacity remaining, and Tehran has begun to slowly reduce production in response to the deadlock. In an interview with CNBC’s "Financial Forum" program, Bessent said that for the past three days, due to the U.S. blockade preventing tankers from entering or leaving the Persian Gulf, Iran has been unable to load tankers at its main oil export terminal on Kharg Island. During the first month of the U.S. blockade, the U.S. military forced 70 vessels allegedly headed to or departing from Iranian ports to alter course.