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Iran expects more demand for its oil after nuclear talks

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TEHRAN, Nov. 25 (UPI) -- Iran expects to see more demand for its crude oil now that it has reached a nuclear deal with its Western negotiating partners, an Iranian lawmaker said.

Jalil Jafari Boneh Khalhkal, a member of an energy committee in the Iranian Parliament, said last weekend's nuclear deal opens the door for more exports of Iranian crude oil.

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"Sanctions relief will lead to rising [oil] demand from Iran which will be followed by rising oil exports," he was quoted by Shana, the Iranian Oil Ministry's news website, as saying Sunday.

Iran agreed to suspend parts of its nuclear program in exchange for modest relief from Western economic sanctions.

The U.S. government, in a statement, said sanctions remain in place on Iran's oil sector. Countries may get relief from sanctions on Iran if they show they've "significantly" reduced oil imports. Washington said Iran would get the frozen $4.2 billion from the sale of its crude oil if it meets the obligations established during talks last weekend in Geneva, Switzerland.

"In the next six months, Iran's crude oil sales cannot increase," the White House said in a statement.

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