<p>Bloomberg reports that, amid the naval blockade, Iran is nearing the limits of its oil storage capacity and is expected to cut production as early as mid-May. According to a report by Kpler, Iran has only 12 to 22 days left before it will be forced to reduce output by approximately 1.5 million barrels per day.</p><p>The report adds that Iran has already reduced oil loadings onto tankers by about 70% due to the blockade. However, the economic impact of the move is expected to be felt only in three to four months.</p>  | Read More News from Israel