Electronics Weekly
According to the U.S. Energy Information Administration, Iran produced roughly 4,700 million barrels of crude oil and natural gas liquids per day in 2024, making it the world’s sixth largest oil producer.
Perhaps more important than Iran’s role as an oil producer is its strategic position and control of the Strait of Hormuz, though. Blocking off the narrow waterway, through which roughly 20 percent of the world’s crude oil supply flows, could disrupt the global oil market significantly.
The gradual easing of Brent prices on Monday indicated that traders don’t fear an imminent disruption of oil flows, however
