Iran and the West: What will happen if a deal is reached?

In this interview with Reem Shamseddine from Zawiya (by Refinitiv), Dr Carole Nakhle, CEO of Crystol Energy, talks about the possible outcomes if a nuclear deal is reached with Iran.

According to Dr Nakhle, if sanctions are lifted on Iranian oil exports, we should expect to see additional barrels of Iranian oil in the market. When the  Joint Comprehensive Plan of Action (JCPOA) entered into force during the Obama administration in 2016, Iran’s exports rose rapidly by 700,000 barrels within four months, and its main destinations were Asia and Europe. By 2018, Iran’s production had reached its pre-sanction levels. 

Iran's Crude Oil Production

Today, if a limited agreement is reached, it would lead to a short-term and partial easing of the embargo. In this case, Iran could add one or one and a half million barrels of oil per day. And if a complete package is reached in which the sanctions on oil exports are completely lifted, the market may be pumped up to 2.5 Mb/d.

Read the full article (in Arabic)

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