A look at Iran's role in world oil markets

AP News
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Posted: Feb 22, 2012 4:44 PM
A look at Iran's role in world oil markets

The tensions over Iran's nuclear program have pitted the West against the world's third-biggest oil exporter.

Here are details about Iranian oil.

_ OIL PRODUCTION: Nearly 4 million barrels per day, or 4 percent of the world's production.

_ BIGGEST BUYERS: China, Japan, India, Italy, South Korea.

_ IMPACT: Since tensions with Iran began escalating in November, benchmark oil prices have risen 11 percent.