Iran Now Lagging Behind UAE in Oil Production

Iran Now Lagging Behind UAE in Oil Production

The 1970s were the heyday of the Iranian oil industry, when the country’s output accounted for 10 percent of global production. 

In the mid-1970s, Iran pumped a record 6 million barrels per day (bpd), almost four times more than the neighboring United Arab Emirates, and its output represented around 20 percent of global demand.

But national oil production dropped to a low in 1980, the year after the Islamic Revolution, and, during the following four decades, the Iranian oil sector faced major disruptions caused by war, sanctions and diplomatic isolation that have steered investors away.

Launch website