Middle East Economic Survey

VOL. LIV

No 52

26-Dec-2011

IRAN

Iran Admits To Fall In Oil Output As EU Discusses Crude Embargo

In a rare admission of the increasing difficulties it is now facing as a consequence of mounting international sanctions, Iran revealed that its domestic crude production has dropped this year because of an investment squeeze. Compared to last year, there was an insignificant drop in our crude production due to lack of investment in developing oil fields, ISNA news...