0440 GMT: We begin with a snapshot from The Financial Times on the economic front, confirming previous reports --- including those from within the Iranian establishment --- of serious issues over the oil industry but offering additional perspective:
Iran’s oil production has fallen to a 10-year low and could drop to levels last seen during the Iran-Iraq war in the 1980s as sanctions over its nuclear programme disrupt an industry already suffering from years of underinvestment.The country’s crude production fell by 50,000 barrels a day to 3.38 million barrels per day in February, according to the International Energy Agency. The last time it was that low was in late 2002, IEA statistics show.
Two years ago, Iran's oil production was an estimated 4.2 million barrels per day.
Posted via email from lissping
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