Iran's Oil Boom Continues
Despite ongoing international sanctions and the recent bombing campaign against it by Israel and the U.S., Iran is continuing its push to record levels of oil production.
According to official data and industry sources, last year saw the Islamic Republic produce around 4.3 million barrels per day (bpd) of crude oil, plus a further 725,000 bpd of other liquids, which marked a post-1979 Iranian Revolutionary record.
Russia is leading new development efforts in key shared oilfields like Changuleh, Cheshmeh-Khosh, and Arvand, powered by Russian-Chinese support.
Oil and gas will remain...
Simon Watkins, a former senior FX trader and salesman, financial journalist, and best-selling author, notes the significance of this development.
Author's summary: Iran's oil production reaches record levels despite sanctions.