TEHRAN, Iran—Iran has discovered a new oil field in the country’s south with over 50 billion barrels of crude, its president said on Nov.10, a find that could boost the country’s proven reserves by a third as it struggles to sell energy abroad over U.S. sanctions.
The announcement by Hassan Rouhani comes as Iran faces crippling sanctions after the United States pulled out of the Iran nuclear deal with world powers last year.
