Nationwide protests in Iran are threatening to disrupt the country’s upstream sector and underscoring a deeper economic crisis that has fueled domestic turmoil. Iran has restored output and exports despite sanctions, but at a rising cost: deeper discounts to China, expensive ‘shadow’ logistics and shrinking fiscal buffers, including the near depletion of its National Development Fund (NDF). Rystad Energy’s analysis shows Iranian crude production is expected to remain stable at around 3.2 million barrels per day (bpd) this…