Tag Archives: International Organizations

A U.S. withdrawal from the Iran nuclear accord could lead to 1 million barrels off the market.

Currently. analysts believe the sanctions could take between 200.000 and up to a million bpd of Iranian crude off global markets.

US President Donald Trump earlier this week announced that the United States would withdraw from the Joint Comprehensive Plan of Action (JCPOA).

U.S. exit from Iran deal puts pressure on European planemakers.

Oil ministers from OPEC and its partners meet on June 22-23 in Vienna to review the existing agreement.

Economists and investment bankers believe a 10% increase in oil price could raise inflation by 0.2-0.3%.

China buys the largest share of Iranian oil. and most of the rest is sold to the other top Asian consumers.

The US decision sent oil futures surging Wednesday as traders digested the likely consequences.

Saudi Arabia is ready to offset any supply shortage but it will not act alone to fill the gap.

Experts believe that the US move would bring uncertainty to prices.