A data analytics firm expects Iranian crude oil production will increase over the next few years, even as the country faces looming sanctions pressures. File Photo by tcly/Shutterstock April 6 (UPI) — The price for oil is well above the point where Iran can break even and production could flirt with 5 million barrels per day in three years, data show. GlobalData, a data and analytics company, estimated Iran will spend more than $20 billion over the next three years to make sure production could approach 4.9 million barrels per day. The company forecast at least 38 conventional and nine heavy oil fields producing for Iran by 2021. “The average development break-even price for oil projects in Iran is about $27.60 per barrel,” GlobalData estimated in its emailed report. The price for Brent crude oil, the global benchmark for the price of oil, was closer to $68 per barrel […]