Iran Reduces Oil Output Amid U.S. Blockade and Rising Tensions
Iran has initiated a reduction in oil production due to a U.S. naval blockade in the Strait of Hormuz, which is significantly impacting the country's oil exports. The blockade has led to a situation where Iranian storage facilities are nearing capacity, forcing the country to cut back on production. This development comes amidst escalating tensions between Washington and Tehran, with President Trump rejecting Iran's latest proposal to end the ongoing conflict. Iranian engineers are reportedly managing the oil infrastructure under these challenging conditions, as operations have been frequently halted and restarted. The blockade has severely restricted Iranian tankers from accessing open waters, causing a sharp decline in exports and increasing the risk of further production cuts from aging wells. 
