WASHINGTON, July 11 (UPI) -- Iranian crude oil production should continue a steady decline by around 1 million barrels per day by year's end, the U.S. Energy Department predicts.
The U.S. Energy Department's Energy Information Administration notes Iranian crude oil production has declined steadily since the end of 2011. The EIA stated, in its monthly short-term energy outlook, that Iran's crude oil production capacity is likely curtailed by its inability to carry out investment projects.