Iran's Return To Oil Markets Is Imminent

Following talks in Vienna this month, the U.S. could announce a deal with Iran as early as the end of May, which could lead to the lifting of oil and energy sanctions. Analysts are predicting a return to pre-pandemic oil production levels for Iran, around 3.9 million bpd, by 2022, assuming that the U.S. eases the sanctions that have been suffocating Iran’s economy. Production levels in March stood at around 2.3 million bpd, the highest level since May 2019, an increase that highlights how Iran’s oil exports have already been recovering…