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Tuesday, July 27, 2021

If Joseph Biden will win the election in the US, the oil market may face problems due to the growth in Iranian oil exports

Earlier D. Biden said about the possibility of a return to nuclear deal with Iran concluded in 2015.


Moscow, 31 Okt – news Agency Neftegaz.RU. In case of victory of the candidate from Democratic party D. Biden in the presidential election in the United States can be taken off the sanctions against Iran, the country will be able to export over 2 million barrels./day of oil.


This was reported by Bloomberg.



Earlier D. Biden said about the possibility of a return to nuclear deal with Iran concluded in 2015


In 2018 D. trump got out of the Joint comprehensive plan of action (SVPD) and back sanctions against Iran.



Now on the market, and so troubled situation due to the second wave of the coronavirus, and the return of Iranian oil could trigger further deterioration.


Us banks predict that in case of victory of J. Biden to the market next year will fall by about 1 million barrels./a day of Iranian oil or more.


Iran is able to produce about 3.8 million bbl./day
now production is about half of this amount, a significant portion goes
on the domestic market.

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