Iran’s Crude Oil Production Fell To An Almost 40-Year Low In 2020

2 years ago US Energy Information Administration

Source: U.S. Energy Information Administration, Short-Term Energy Outlook (STEO) June 2021

In 2020, Iran produced less than 2 million barrels per day (b/d) of crude oil, an almost 40-year low in Iran’s production levels according to our analysis, which we updated in July. Several factors contributed to Iran’s low crude oil production in 2020, including the global economic decline that resulted from the COVID-19 pandemic and international sanctions on Iran’s crude oil that limited its crude oil exports.

Article and graphs courtesy of U.S. Energy Information Administration (EIA).

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