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Located in West Asia, Iran is a country in the Middle East, bordering Pakistan and Afghanistan in the east, Turkmenistan in the northwest, Azerbaijan and Armenia in the west and Turkey and Iraq in the west.
Located in the southwest of Asia and the northeast of Arabian Peninsula, it is adjacent to Saudi Arabia and Kuwait in the south, Turkey in the north, Syria in the northwest and Iran and Jordan in the east and west respectively.
Iran is a member of the Organization of Petroleum Exporting Countries (OPEC). Its economy is dominated by oil exploitation and it is a world oil and gas power. Oil export is the lifeblood of its economy, and its oil production capacity and oil export volume rank fourth and second respectively in the world.
Iraq's oil industry is the backbone of its economy, and its crude oil reserves rank fourth in the world, second only to Venezuela, Saudi Arabia and Iran.