Yes, Iran is an oil-rich country. It is one of the largest producers of crude oil in the world, with many sources estimating that the country has proven reserves in excess of 200 billion barrels, the world’s third largest behind those of Venezuela and Saudi Arabia. Much of the crude oil (liquid petroleum that accumulates in various porous rock formations in Earth’s crust) extracted is a high-value grade called Iranian Light, which is suitable for making gasoline and diesel fuel.
verifiedCite
While every effort has been made to follow citation style rules, there may be some discrepancies.
Please refer to the appropriate style manual or other sources if you have any questions.
Select Citation Style