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

Go deeper

Updated 49 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11:30 a.m. ET: 30,557,899 — Total deaths: 952,981— Total recoveries: 20,822,644Map.
  2. U.S.: Total confirmed cases as of 11:30 a.m. ET: 6,730,304 — Total deaths: 198,679 — Total recoveries: 2,556,465 — Total tests: 93,150,052Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: The dwindling chances of eliminating COVID-19 — Massive USPS face mask operation called off — How the American diet worsens COVID-19.
  5. Business: Unemployment drop-off reverses course 1 million mortgage-holders fall through safety net.
  6. Education: At least 42% of school employees are vulnerable.
  7. World: Guatemalan president tests positive for COVID-19.

Trump says Republicans have an "obligation" to fill Ginsburg's seat

President Trump. Photo: Stephen Maturen/Getty Images

President Trump wrote in a tweet Saturday morning that Republicans have an "obligation" to fill Justice Ruth Bader Ginsburg's seat on the Supreme Court following her death Friday.

What he's saying: "We were put in this position of power and importance to make decisions for the people who so proudly elected us, the most important of which has long been considered to be the selection of United States Supreme Court Justices," the president said, tagging the Republican Party. "We have this obligation, without delay!"

Hundreds gather to pay tribute to Justice Ruth Bader Ginsburg along Supreme Court steps

Photo: Alex Brandon/AP

At the Supreme Court steps Friday night hundreds of people gathered to pay tribute to Justice Ruth Bader Ginsburg — singing in a candlelight vigil, with some in tears.

Details: If there is a singular mood at the Supreme Court tonight, it’s some kind of a daze manifested by silence.