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Economy News

The Economic Times

Economy / The Economic Times

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Iran juggles oil cuts and storage strain to resist US blockade

Tightened US naval restrictions in the Strait of Hormuz have sharply reduced Irans oil exports, forcing the country to cut production as storage fills up. Despite the pressure, Iran is drawing on past experience with sanctions to manage the crisis, including reducing output in a controlled way and using floating storage to keep supplies moving.

2 May 2026 7:02 pm