Iranian Oil Industry

The Iranian oil industry is a crucial part of Iran's economy, as the country has some of the largest oil reserves in the world. It plays a significant role in global oil supply. Iran’s oil is primarily exported, with revenues supporting the national budget and development projects. However, the industry has faced challenges due to international sanctions aimed at limiting its oil sales, impacting production and investment. Additionally, geopolitical tensions and the global push for renewable energy affect its long-term prospects. Overall, Iran's oil industry remains a key element of its economic and political landscape.