Follow-up – INA
Bloomberg reported on Saturday that Iran has begun effectively reducing its oil production, noting that Iran has gained experience in shutting down oil wells.
The agency quoted a senior Iranian official as saying, "The production cut is a proactive step to avoid reaching storage capacity limits," adding that "the decision to reduce oil production has already begun."
The official added that "Iran has gained experience in temporarily shutting down oil wells without causing permanent damage," explaining that "Iran has sufficient experience and we are not worried."
The official continued, "The ongoing efforts to pump oil can only continue for a limited period."
He clarified that "the issue for us is the ability to endure the economic pain for a longer period than Washington."