facebook
twitter
rss
account
search
search
 

Analyst: Lag in Iranian return to oil stage

Iranian oil exports limited under nuclear arrangement.
By Daniel J. Graeber   |   July 29, 2014 at 8:59 AM   |   Comments

http://cdnph.upi.com/sv/em/upi/UPI-1351406637841/2014/1/79e3a2d382e51d3b33652a4218d813e7/Analyst-Lag-in-Iranian-return-to-oil-stage.jpg
LONDON, July 29 (UPI) -- It might be mid 2015 before substantial volumes of Iranian crude oil make it to the international market, an analyst at Lloyd's List Intelligence said.

Iran last week received an extension on a November agreement that offers relief from some energy sanctions in exchange for a pledge to curb its nuclear research activity. Iran under the terms of the deal is limited to exporting around 1 million barrels of oil per day.

Before sanctions pressure increased, Iran was exporting as much as 2.3 million bpd. Though Iran's recent exports have topped the 1.4 million bpd mark, Neil Atkinson, director of research at Lloyd's List Intelligence, told the Platts energy news service major increases in Iranian crude oil exports are about a year off.

"It's not as if Iranian oil is going to start flooding onto the market," he said in an interview published Monday. "We might not see the biggest impact until the second quarter of 2015, when the largest volumes might start appearing."

Iran and members of the international community are working on finding a way to resolve the ongoing nuclear crisis. Atkinson said that, given turmoil in the immediate region, "it's in the interests of the United States to have a solid working relationship with Iran."

Follow @dan_graeber and @UPI on Twitter.
Contact the Author
© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Destroyers with ballistic missile defense capability heading to Japan Destroyers with ballistic missile defense capability heading to Japan
2
Brazil, Argentina to strenghten aerospace cooperation; talk Gripen deal Brazil, Argentina to strenghten aerospace cooperation; talk Gripen deal
3
Little girls drop F-bombs for feminism in new FCKH8 video Little girls drop F-bombs for feminism in new FCKH8 video
4
Maker of Camel cigarettes bans smoking in workplace Maker of Camel cigarettes bans smoking in workplace
5
Warren Buffett loses $2 billion in 2 days on investments Warren Buffett loses $2 billion in 2 days on investments
Trending News
Around the Web
x
Feedback