Iran cut back oil production by 400,000 bpd, US energy secretary says

ReutersMay 7, 2026 2:58 PM

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WASHINGTON, May 7 (Reuters) - U.S. Energy Secretary Chris Wright said on Thursday that Iran appears to have cut back oil production by 400,000 barrels per day and is likely to reduce it more as its storage units filled.

"It looks like they've likely already cut back their production, maybe by 400,000 barrels a day. They'll likely continue to ramp down their production as their storage fills and their inability to export oil," Wright said in an interview with Fox News.

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