Iran Has Discovered An Oil Field Containing Over 50 Billion Barrels

Iran announced the discovery of a new oil field in southwest Iran, potentially increasing its crude oil reserves from 150 billion to over 200 billion barrels. This discovery could elevate Iran to the third-largest holder of proven oil reserves, surpassing Canada. The announcement comes amid economic strain and currency devaluation following US withdrawal from the Iran nuclear deal and subsequent sanctions. President Hassan Rouhani addressed the US, highlighting the resilience of Iranian workers and engineers in discovering 53 billion barrels of oil despite sanctions.

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