As efforts by Iranian negotiators and those of the world powers to revive a 2015 nuclear deal are getting over the finish line, there are many speculations about how a new potential deal could affect the global oil market.
Iranian Minister of Petroleum Javad Owji on Saturday reiterated Iran’s readiness to increase oil exports to previous levels as soon as the unilateral sanctions on the country are lifted.
After finding new customers for its oil, Iran has reported a significant surge in crude revenues despite US sanctions.
The National Iranian Oil Company (NIOC) has raised its crude oil prices for deliveries to Asian and European customers in September.
Iranian Oil Minister Javad Owji has warned of a global energy crisis this winter as he says that Iran stands ready to increase its oil exports by a significant amount if sanctions are removed from the country.
The secretary general of the Organization of the Petroleum Exporting Countries (OPEC) says Iran is one of the most important founding members of the intergovernmental energy body and plays a significant role in bringing stability to the global oil market.
Global crude trader Vitol Group says the United States may allow more sanctioned oil from Iran onto global markets even without reaching an agreement on the revival of the 2015 deal, amid growing pressure to reduce gas prices in America.
An Iranian official says the country’s oil revenues have increased by more than 60% in the two months to late May compared to the similar period last year.
The 26th International Oil, Gas, Refining and Petrochemical Exhibition of Iran (Iran Oil Show 2022) kicked off at Tehran Permanent International Fairground on Friday.
The 26th International Oil, Gas, Refining and Petrochemical Exhibition of Iran (Iran Oil Show 2022) is scheduled to kick off on May 13 at Tehran Permanent International Fairgrounds, Shana reported.