By the next year, more than ten dollars per barrel oil price decline. The impact of the embargo on Iranian oil market will take place in the fall. Oil importer countries would benefit from the change.
Said the World Bank’s forecast. Iran to limit its nuclear program in exchange for economic and commercial sanctions on the country to take up a contract has been signed recently. According to the quarterly forecast of the World Bank’s Middle East and North Africa, in the agreement with Iran, the oil market will increase significantly.
The economic impact of sanctions on Iran in the headlines was forecast in the absence of sanctions will increase the capacity of Iran’s oil exports. The full capacity of the country to the global oil market asabeyara effect by next year, providing a daily average of 10 million barrels of oil in the world market will increase.
01. strengthen the ban on Iranian oil exports dropped in. Now, through the agreement, up to the ban, as well as for the other countries will have to increase the volume of trade with Iran. In the meantime, many countries have shown interest in investing in Iran’s oil and energy sectors.
Lily economist at the World Bank’s Middle East and North Africa, said Mottaki, the outline of the nuclear deal with Iran and the United States in April this year after negotiations with Iran, especially in the oil and gas sector of the multinational companies have shown interest in excess. The ban went up (multinational companies) and the increased interest in Iran’s oil industry to be able to meet the required capital and advanced technology.
The United States and European Union sanctions in Iran’s energy sector was one of the biggest in Japan. Earlier this week, Japan’s 10 oil and gas company officials met with Iran’s Oil Ministry. According to the World Bank, to reduce the price of fuel oil exporting countries in the Gulf region, Egypt and Tunisia, as oil revenues decrease and importers would benefit.