The maximum capacity of these onshore deposits is 42 million barrels, according to data from the Iranian Oil Terminals Company. Other sources put the figure at around 50 million.
The world has flipped from a scarcity crisis to a crisis of drowning in abundance. We have entered the era of the Super Glut -a structural deluge where we are extracting hydrocarbons faster than the global economy can burn them. According to the IEA's January 2026 report, global oil supply is projected to surge by 2.5 million barrels per day (bpd), reaching a definitive record of 108.7 million bpd. This is not a temporary surge; it is a permanent shift in market dynamics.