Iran, a country with a deep heritage and rich cultural history in science, literature and mathematics, with pionners such as Omar Khayyam who excelled in mathematics, astronomy and also published some of the greatest literature, such as The Rubaiyat.
Today the country whose history is distorted by the past forty years, is a major oil producer. With 4.2% of global oil production coming from Iran, one can work out the value of this black gold.
Iran produces 3,680,000 barrels a day.
A barrel of oil is $107.18.
Thus each day Iran’s oil production is worth:
3,680,000 x $107.18 = $394,422,400 = £230,793,000
That is £230 million a day, yes nearly a quarter of a Billion pounds per day.
So just by looking at Crude Oil Production, and we are ignoring natural gas production, Iran should be an extremely wealthy country, but with UN sanctions, total economic mis-management and irrelevant political rhetoric from the Iranian government, has resulted in an economy that is weak, and the average person in Iran has not benefitted from the rich Iranian Natural Resources.