Iran is one of the only countries on earth with the potential to add significant oil supply to a global oil market that is desperately tight.
- Jul 11, 2022, 5:00 PM CDT
The location of the Azadegan field, which borders Iraq, is also significant as it is impossible for the U.S. to determine the origin of the crude that is extracted from this field.A principal strategy being used by Iran to pressure the U.S.
The supergiant Azadegan site was Iran’s biggest oil find since the late 1960s, with total estimated reserves of around 42 billion barrels of oil, of which around seven billion barrels are deemed recoverable. In broad terms, prior to the U.S.’s unilateral withdrawal from the JCPOA in May 2018, Iran had planned to increase production from the West Karoun fields to at least 530,000 barrels per day by the end of the Iranian calendar year that ended on 20 March 2018.
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