Iran prepares to export oil to world markets

In the near future, an agreement can be reached with Iran, as a result of which the state will be able to sell oil to other countries. Export will begin after the signing of the nuclear deal. 

At the moment, in the Middle East country on stationary tankers is from 65 to 80 million barrels of oil. Approximately 80 percent of this volume is a by-product of natural gas production. 

After the escalation of relations between Ukraine and Russia, the price of Brent oil rose again to $105 per barrel. Note that the state plans to sell most of the fuel to South Korea. 

The restoration of Iranian oil supplies to the world market will occur within a month after the signing of the agreements. The planned amount of export per day is 1 million barrels of oil. Thus, Iranian supplies will help fill the deficit of other OPEC + member countries. 

At the same time, daily production could reach about 3.4 million barrels within three months after the resumption of the deal, and the full production capacity will reach 3.7 million barrels within six months.