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Iran produces around 3.3 million barrels of oil per day (bpd)making it the fourth largest oil producer in OPEC. It is also one of the largest natural gas producers in the world. The country has some of the largest oil reserves in the world, representing about a quarter of the Middle East’s reserves and 12% of the world’s, according to the United States Energy Information Administration (EIA). However, Iranian production has remained limited due to years of low investment and international sanctions.
