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Future Oil Price War as Iran Sanctions Get Lifted
Economic sanctions have cut Iran’s oil production in half and dropped oil exports to less than 20% of normal. Iran’s oil production is currently below 2 million barrels per day and Iran has about 300,000 barrels per day of oil exports. source: tradingeconomics.com Biden is expected to lift sanctions if Iran returns to strict compliance on its nuclear program. US independent producer Pioneer Natural Resources chief executive Scott Sheffield expects Iran returning to oil exports as an early 2022 event. He sees this as mid-2022 for Iran to bring on 1.5mn-2mn b/d of exports. 2 million barrels per day of
The post Future Oil Price War as Iran Sanctions Get Lifted first appeared on NextBigFuture.com.
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