Iran, the third-largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC), accounts for approximately 4.5% of global petroleum supply. Its daily output includes about 3.3 million barrels of crude oil, along with 1.3 million barrels of condensate and other liquids. Tensions between the United States and Iran have escalated, raising concerns over potential disruptions to oil and natural gas production across the Middle East, as well as damage to energy infrastructure. Iran's domestic refineries possess a processing capacity of 2.6 million barrels per day. In 2025, the country exported close to 820,000 barrels per day of fuel oil, including liquefied petroleum gas (LPG), slightly lower than the previous year's figures. Analysts suggest that Saudi Arabia and other OPEC members may utilize their existing production capacity to increase output and offset any reduction in Iranian supplies. However, such spare capacity has diminished due to production increases implemented last year. Additionally, Iran produces natural gas from the South Pars offshore gas field, which holds roughly one-third of the world's largest natural gas reserves.