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Iran oil sales bring higher daily revenue at new prices, Michael Shermer notes
Michael Shermer highlights the shift in Iran's oil revenues surrounding the period after the U.S. invasion. According to the data, Iran previously sold 2.1 billion barrels of oil per day at $66 per barrel, yielding $138 billion per day. Four weeks after the U.S. invasion, daily sales dropped to 1.5 billion barrels, but the price rose sharply to $114 per barrel, raising daily revenue to $171 billion. Experts are now suggesting the price could reach $200 per barrel.
Shermer questions how policies aimed at defeating Iran are effective in light of these increased revenues.
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