Iran oil sanctions relief expected in months if Vienna talks result in deal
Washington geopolitical analysts increasingly expect the US and Iran to announce a deal by the end of May that will allow for the lifting of sanctions on oil, petrochemical, shipping and other key sectors as soon as the third quarter of this year.
European and Asian oil buyers could start negotiating deliveries when such a deal is announced, with most likely waiting until the Biden administration removes sanctions to finalize purchases.
Iran would be able to return to pre-sanctions oil production of about 3.9 million b/d next year, analysts predict. It pumped 2.3 million b/d in March, according to the latest S&P Global Platts OPEC+ survey.