Iran is a wonderful place to visit. It boasts an ancient civilisation, a unique culture dating back to the Persian empire, and friendly people in cities of mystique and magic.
In this context, and taking into consideration its geopolitical situation, it is little wonder that present-day Iran remains a world player. For one thing, it has the world's second-largest reserves of oil and natural gas.
This means its hydrocarbon industry accounts for more than 80 per cent of government income. Any drop in oil prices is acutely felt. This is of grave concern to the authorities, as US trade sanctions continue and the European Union is considering tightening economic and other measures in response to Iran's nuclear programme.
Analysts suggest much depends on how, and if, members of Opec, the oil-producers' cartel, cut any deal with non-members.
Since last September, Opec has cut production in the belief that the price this year will not exceed US$75 a barrel. As Opec's second-largest producer, Iran - through its oil minister, Gholamhossein Nozari - is on record as saying that the future of energy supply in the world can only be secured 'with US$75 to US$80 a barrel'. He has called for co-operation between Opec members and non-members to maintain the status quo.
'It seems that whenever Opec members cut output, non-Opec members increase it,' he reportedly said. 'These two [groups] should co-operate with each other to stabilise the market.'
