11 Jun, 2021 11:00 am

The Iran Nuclear Deal Won't Happen Any Time Soon

The Iran Nuclear Deal Won't Happen Any Time Soon
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

While there have been no real breakthroughs in the discussions so far, the possibility of Iranian oil exports coming back online is adding downward pressure to oil prices.This blunt but clear approach has given analysts confidence that additional Iranian oil volumes will not be entering the market any time soon.When it does enter the market, Iranian oil is almost certainly going to be priced at normal levels as Tehran will need the revenues to fund its failing economy and support IRGC linked projects and proxies.Before Blinken’s statement about sanctions staying in place, analysts had already suggested that a flood of Iranian oil was unlikely as production levels were constrained, outlets unavailable, and customers uncertain.

Officials of the National Iranian Oil Co claimed that Tehran could restore its crude oil production within a month of sanctions being lifted.Also, even if sanctions were lifted, Iran would potentially be part of the OPEC+ export agreement.

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