🔺Only half of Iran’s oil production decline during the war has been restored ▪An analysis by Bloomberg shows that Iran’s daily oil production, following the lifting of the naval blockade, increased by 510,000 barrels over the past month and reached 2.85 million barrels per day. ▪However, this figure is about half a million barrels lower than the February production level—before the war. ▪Iran’s oil production decline intensified after the imposition of a naval blockade against the Islamic Republic, as dozens of millions of barrels of the country’s produced oil were left in tankers anchored in waters in the south or stored in onshore oil storage facilities. ▪In the first two weeks after the lifting of the naval blockade, Iran sent its 50 million barrels of floating oil to Asian markets, but the process of unloading the stored oil on land and restoring oil production will be time-consuming.