Why oil traders should keep an eye on Iran even as nuclear talks look unproductive
The U.S. and other world powers haven’t made much progress in reaching a new nuclear deal with Iran, but with data showing the nation’s crude oil production at a nearly two year high, traders can’t afford to ignore the amount Iran can potentially add to global supplies.
“Iran’s export capacity is approximately 2 million barrels per day, and it appears that it is already skirting the sanctions” by selling oil under the radar to Chinese buyers, said Manish Raj, chief financial officer at Velandera Energy. He believes that an additional 1 million barrels per day of Iranian supplies are ready to hit the market as soon as the sanctions imposed by former U.S. President Trump are lifted.
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About DTN
DTN delivers accurate, objective, real-time, and actionable insights to increase our 2 million customers’ confidence and support their business decisions. In a data-rich world, our actionable insights in weather and financial analytics make sense of the information, drive change in processes and help businesses prosper. They empower our agriculture, energy and transportation customers – those who work endlessly to feed, fuel and protect our world. We believe that when our customers are supported with the most reliable and innovative information to the Nth Degree, they prosper and we all win. DTN is based in Minneapolis with offices globally.
About DTN
DTN delivers accurate, objective, real-time, and actionable insights to increase our 2 million customers’ confidence and support their business decisions. In a data-rich world, our actionable insights in weather and financial analytics make sense of the information, drive change in processes and help businesses prosper. They empower our agriculture, energy and transportation customers – those who work endlessly to feed, fuel and protect our world. We believe that when our customers are supported with the most reliable and innovative information to the Nth Degree, they prosper and we all win. DTN is based in Minneapolis with offices globally.
About DTN
DTN delivers accurate, objective, real-time, and actionable insights to increase our 2 million customers’ confidence and support their business decisions. In a data-rich world, our actionable insights in weather and financial analytics make sense of the information, drive change in processes and help businesses prosper. They empower our agriculture, energy and transportation customers – those who work endlessly to feed, fuel and protect our world. We believe that when our customers are supported with the most reliable and innovative information to the Nth Degree, they prosper and we all win. DTN is based in Minneapolis with offices globally.