Analysts said that Iran could withstand a total halt of oil exports for up to two months before it is forced to cut?production. This comes after the U.S. began blocking shipments into and out of its ports on April 13th, Reuters reported.
The blockade may prevent approximately 2 million barrels of Iranian crude per day from reaching China, its primary buyer. The blockade could prevent 2 million barrels per day (bpd) of Iranian crude from reaching its main buyer China.
Iran will have to divert crude oil into tanks on its land to store it. Once the tanks are filled, Iran would have to reduce its upstream production.