May 4, 2019

Iran reports steady oil production as U.S. sanctions continue

The Port of Kharg Island Oil Terminal in the Persian Gulf in 2017. Photo: Fatemeh Bahrami/Anadolu Agency/Getty Images

Iranian Offshore Oil's CEO Hamid Bovard claims that Iran's oil production has not seen any reduction and the country has loaded crude oil for export, Bloomberg reports.

What's happening: U.S. sanctions have driven down Iranian oil exports, which were believed to be roughly 1.3 million barrels per day last month. It is unclear how well Saudi Arabia and OPEC can fill in the gaps as less Iranian oil enters the global market, CNBC reports.

Between the lines: President Trump is trying to tighten oil sanctions against Iran without raising energy prices enough to erode his political standing. The administration is not renewing sanctions waivers beyond early May for countries that still buy Iranian oil. The waiver announcement was a jolt to global crude oil markets as traders weighed the loss of more Iranian barrels.

Go deeper: How Trump’s push to end Iran oil exports could backfire

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America's funeral homes buckle under the coronavirus

Illustration: Aïda Amer/Axios

Morgues, funeral homes and cemeteries in hot spots across America cannot keep up with the staggering death toll of the coronavirus pandemic.

Why it matters: The U.S. has seen more than 10,000 deaths from the virus, and at least tens of thousands more lives are projected to be lost. The numbers are creating unprecedented bottlenecks in the funeral industry — and social distancing is changing the way the families say goodbye to their loved ones.

Navarro memos warning of mass coronavirus death circulated in January

Image from a memo to President Trump

In late January, President Trump's economic adviser Peter Navarro warned his White House colleagues the novel coronavirus could take more than half a million American lives and cost close to $6 trillion, according to memos obtained by Axios.

The state of play: By late February, Navarro was even more alarmed, and he warned his colleagues, in another memo, that up to two million Americans could die of the virus.

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Axios-Ipsos Coronavirus Index: The virus hits home

Data: Ipsos/Axios poll; Chart: Danielle Alberti/Axios

The share of Americans who know someone who's tested positive has more than tripled in just a few weeks, to 14%, according to the latest installment of our Axios-Ipsos Coronavirus Index.

  • It's still highest in the Northeast, but last week alone it doubled in the South — and it's becoming most pronounced among people who still must leave home to work.
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