Despite new sanctions by the Trump Administration and an escalating war of words regarding its ballistic missile program, Iran is continuing to push ahead with plans to maintain oil production at around 3.8 million bpd, the level agreed upon at the November OPEC meeting last year. In order to do so, Iran will need to attract billions in new investment, as its current production is based on aging fields and crumbling infrastructure. To maintain the current production level while continuing to export and meet domestic demand, Iran will need at least $100 billion in new investment. New U.S. sanctions, which target 25 Iranian individuals and entities said to be associated with the country’s missile program, is being touted as an “initial step” in the administration’s plan to push back hard on Iran’s regional ambitions, with National Security Advisor Michael Flynn announcing last week that the U.S. was “putting Iran […]