JPMorgan Chase: US Navy blockade will force Iran to cut oil production According to a report by Golden Finance on April 22nd, JPMorgan Chase stated in a research report that if the US Navy successfully implements a physical blockade at sea, it will force Iran to reduce its oil production. Analysts Natasha Kaneva and others wrote in a report released on April 21 that such blockade measures will not only impose financial restrictions, but also directly constrain the total amount of crude oil exports, significantly reducing Iran's space for trade through indirect channels, and forcing Iran to reduce production in the long run. Iran's onshore crude oil storage capacity is about 86 million barrels, with a current storage occupancy rate of 54%. The remaining available storage capacity is about 40 million barrels, which is only enough to support about 22 days of oil exports. In addition, there are still about 4 ultra large oil tankers belonging to Iran's related businesses anchored in the Strait of Hormuz, which can carry about 8 million barrels of crude oil and can buffer export time limits extended to about 26 days. If the export channel is completely cut off, Iran will be forced to initiate production cuts in about 16 days; By around the 30th day, the reduction in production will continue to increase until crude oil exports are almost completely shut down, resulting in a daily reduction of approximately 1.9 million barrels. Analysts added that this blockade may enhance the bargaining power of the US side, but the prerequisite is that the blockade measures are strictly enforced and will last for a long time, expected to last for several months. (Dongxin Society)