MEES Agenda

Iranian Crude Output Continues To Fall, Hurt By Sanctions

Iran admits falling crude output, but denies reports of a 15% drop over past three-four years. Earlier Western sanctions – banning investment in Iran’s oil industry, which faces about 300,000 b/d in annual depletion – have continued to take their toll on gas output needed for oil field re-injection, and the latest round will hurt upstream investment further, Nick Wilson writes.

Ahmad Qalebani,...