Reuters reports, citing industry sources on the matter
The report says that Iran's oil exports will decline in May to between 400k to 700k bpd as the US tightens the screws on Tehran. For some context, Iran has already seen its oil exports halved to about 1 million bpd from the sanctions imposed in November. Hence, the further drop here is roughly by another half or just less than that but still rather impactful.
I reckon the likes of China and India will continue to do business with Iran until stricter measures are implemented to stop deliveries but this will no doubt still hurt global supply when coupled with the situation seen in Venezuela.
