Oil Investors Weigh Recovery, Iran Talks

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  • Bloomberg Markets and Finance published this video item, entitled “Oil Investors Weigh Recovery, Iran Talks” – below is their description.

    May.24 — Oil is bouncing back today, more signs that the U.S. economy is rapidly recovering from the pandemic, outweighing the concerns over the increase in global supply. Bloomberg’s Dan Murtaugh reports on “Bloomberg Daybreak: Europe.”

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    In This Story: Iran

    Iran, also called Persia, officially the Islamic Republic of Iran, is a country in Western Asia. Its central location in Eurasia and proximity to the Strait of Hormuz give it significant geostrategic importance. Tehran is the capital and largest city.

    Iran is home to one of the world’s oldest civilizations, beginning with the formation of the Elamite kingdoms in the fourth millennium BC. The Iranian Revolution established the current Islamic Republic in 1979.

    Iran’s political system combines elements of a presidential democracy and an Islamic theocracy. Iran is a founding member of the UN, ECO, OIC, and OPEC. It is a major regional and middle power and has large reserves of fossil fuels — including the world’s largest natural gas supply and the third largest proven oil reserves.

    The country’s rich cultural legacy is reflected in part by its 22 UNESCO World Heritage Sites. Historically a multi-ethnic country, Iran remains a pluralistic society comprising numerous ethnic, linguistic, and religious groups, the largest being Persians, Azeris, Kurds, Mazandaranis and Lurs.

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