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Iran announced the discovery of new oil fields. What is Iran's current oil reserves

Iran announced the discovery of new oil fields. What is Iran's current oil reserves

According to foreign media reports, Iranian President Rouhani said that Iran's discovery of new oil fields in the southwest may increase oil reserves by one third.

According to reports, Rouhani delivered a television speech in Yazd, a city in central Iran, saying that the staff and Exploration Department of the Iranian national oil company had found a new oil field with 53 billion barrels of reserves.

Rouhani said that the oil field covers an area of more than 2400 square kilometers and is located in the oil-rich Khuzestan province.

According to the US energy information administration, Iran is the world's fourth largest producer of petroleum and the second largest producer of natural gas.

According to the website of the US energy information administration, as of January 2018, Iran's proven crude oil reserves amounted to about 157 billion barrels.

In May 2018, the United States announced its unilateral withdrawal from the comprehensive agreement on the Iranian nuclear issue signed in 2015, and then restarted sanctions against Iran. As a result, the oil trade, an important economic pillar of Iran, decreased sharply, and the real revenue of the government decreased significantly.

Source: China News Network