US EditionIran’s Vast Oil Wealth Squandered Amid Poverty and Corruption - Iran News Update
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Iran’s Vast Oil Wealth Squandered Amid Poverty and Corruption - Iran News Update
Despite holding some of the world’s largest oil and gas reserves, Iran faces poverty, inflation, and protests due to systemic corruption. Recent data from 2023–2024 places Iran’s proven oil reserves at approximately 157.5 billion barrels, with some estimates reaching 209 billion barrels. This positions Iran as the holder of the fourth-largest proven oil reserves in the world, representing around 10–12% of global petroleum resources. Combined wit…
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