U.S. Energy Secretary Chris Wright said Iran’s oil production has likely fallen by about 400,000 barrels per day, citing reduced exports and rising storage constraints amid the U.S. blockade. Wright said Iran’s inability to sustain exports could force shutdowns of mature oil reservoirs, risking “permanent damage” to production capacity, which he said may pressure Tehran toward ending the conflict. Data from Vortexa showed Iran exported 1.84 million barrels per day in March before the blockade, d

U.S. Energy Secretary Chris Wright said Iran’s oil production has likely fallen by about 400,000 barrels per day, citing reduced exports and rising storage constraints amid the U.S. blockade. Wright said Iran’s inability to sustain exports could force shutdowns of mature oil reservoirs, risking “permanent damage” to production capacity, which he said may pressure Tehran toward ending the conflict. Data from Vortexa showed Iran exported 1.84 million barrels per day in March before the blockade, down from 2.15 million barrels per day in February.