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Iran to return to oil market
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Iran gears up for return to oil market
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Iran readies oil export capabilities as U.S. sanction talks advance By Anthony Di Paola, Arsalan Shahla and Grant Smith on 5/17/2021
LONDON (Bloomberg) - Iran is preparing to ramp up global oil sales as talks to lift U.S. sanctions show signs of progress. But even if a deal is struck, the flow of additional crude into the market may be gradual.
State-controlled National Iranian Oil Co. has been priming oil fields and customer relationships so it can increase exports if an accord is clinched, officials said. Under the most optimistic estimates, the country could return to pre-sanctions production of almost 4 million barrels a day in as little as three months. It could also tap a flotillaâs worth of oil thatâs hoarded away in storage.
by Bloomberg
|Monday, May 17, 2021
NIOC has been priming oil fields and customer relationships so it can increase exports if an accord, officials said.
(Bloomberg) Iran is preparing to ramp up global oil sales as talks to lift U.S. sanctions show signs of progress. But even if a deal is struck, the flow of additional crude into the market may be gradual.
State-controlled National Iranian Oil Co. has been priming oil fields and customer relationships so it can increase exports if an accord is clinched, officials said. Under the most optimistic estimates, the country could return to pre-sanctions production of almost 4 million barrels a day in as little as three months. It could also tap a flotilla’s worth of oil that’s hoarded away in storage.
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