Potential impact of Iran oil on global supply

Following the lifting of sanctions in January, low oil prices and an oversupplied market increased fears that Iran’s crude exports could swamp the oil market. So three months down the line, where are we now?

The National Iranian Oil Company (NIOC) declared that it would increase oil production and exports by 500,000 b/d as soon as sanctions were lifted, then raise production levels another 500,000 b/d six months later.

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