A new player: how the nuclear deal with Iran will affect oil prices

Marcel Salikhov, President of the Institute for Energy and Finance, commented to the Izvestia newspaper on the nuclear deal with Iran.

As Marcel Salikhov noted in an interview with Izvestiya, according to some signs, the likelihood of concluding the nuclear deal has increased in recent days. However, there is uncertainty about how much and over what period of time Iran will actually be able to increase production and exports.

Salikhov believes that Iran will be able to increase exports by 0.5-0.6 million barrels per day within six months and another 1-1.2 million barrels within 12 months.

“The increase will depend on the technical condition of the fields that have been mothballed due to sanctions, as well as on the willingness of the market to buy additional Iranian oil,” he added.