TankerTrackers, an institute tracking and analyzing tanker traffic, reported that Iran’s oil production has declined and is now almost equal to its oil consumption and domestic refining, and as a result, Iran will not face a shortage of oil storage capacity.

The institute, which examines the movement of oil in the world using shipping data and tanker tracking, wrote on its X account that the volume of oil currently in excess of production in Iran is very small and that the National Iranian Oil Company does not face a significant problem in storing it.