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economicSep 21, 2026

How oil, gas losses have shrunk Iran’s GDP by 10 percent during war

Summary

The oil and gas sector shrank 26 percent, new official data shows, pointing to the costs of the US-Israel war on Iran.

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○ 1 source

Analysts have suggested that global emergency oil reserves, which are at multidecade lows, could be depleted within one to two months if the Strait of Hormuz were to close again. These projections remain speculative and depend on the specific duration and severity of any potential disruption to shipping lanes.

Location: Iran